getting a 2nd mortgage on another home?

Arnity, As I read it, two issue(rules) that will affect you are: 1) Need to be Two Years after the Bankruptcy. 2) Need to be three years after the Forclosure is complete. Complete meaning when the property is resold by the bank. Because you can not meet these two items, you will have to look at your fiancee doing the new loan just in his name. Also, only his income can be used to qualify. He will also have to qualify for the new payment, the current mortgage and any other debts in his name. Your specific information needs to be discussed with a lender that can collect all the information necessary to advise you.

You will have to wait a while before you will qualify. Your bankruptcy has to be discharged for 2 years before you can purchase again, but you might have another problem though. You said the house is in foreclosure now, you have to wait for 3 years after a foreclosure before you can purchase. You will only be able to use your fiance's income for the new purchase. Your fiance will have to qualify with both mortgage payments. If you all would like to discuss more to see what is possible please give me a call. 201-962-3555 All the best. Michelle