Press Release: November 22, 2005

For Immediate Distribution

Action Mortgage, one of the nations leading 'Mortgage After Bankruptcy Mortgage Brokers is pleased to announce a new mortgage after bankruptcy program and a 24 Hour Bankruptcy Mortgage Information Hotline to assist people who are currently in need of a mortgage after bankruptcy.  

Most people probably assume that obtaining a mortgage to purchase a home after bankruptcy, refinance after a bankruptcy is out of the question. In fact, many people are able to obtain these bankruptcy mortgage services, even 1 day after a bankruptcy discharge in some cases. Bankruptcy loan programs and Bankruptcy lenders are available that require little or no time after the discharge of a bankruptcy. Here are a few tips to speed up the road to credit recovery and the bankruptcy mortgage services you desire. First, continue timely paying on items such as your home and cars that were not discharged in the bankruptcy. Having at least a couple credit items you are paying on- time will help. Second, limit the amount of other debts such as credit cards or bank loans. Too much debt will make it more difficult to qualify for a loan, particularly revolving credit accounts such as credit cards.

Your debt-to-income ratio is one part of the puzzle lenders will look at in determining your ability to repay a mortgage. Another important aspect is providing all necessary documents in a timely manner to your loan consultant. Items such as pay-stubs and tax returns are generally needed in order to establish your income and show the ability exists to repay the loan. Information on your credit report needs to be checked for accuracy. Items that you feel are inaccurate need to be disputed in writing with the three major credit repositories. (Equifax, Experian and Trans Union). This may take persistence to ensure the items are removed appropriately. The removal of this inaccurate information will help establish a more favorable debt-to-income ratio and make the process of qualifying for a loan easier. Finally, if you are unable to qualify for a loan initially, do not despair. Sometimes this process requires a little patience. Follow the tips mentioned earlier and more options are usually available 6 months to a year after the bankruptcy discharge. Your Action Mortgage Bankruptcy Loan Consultant can help guide you through this process.
 

Action Mortgage -  Your 'Mortgage After Bankruptcy' Specialists !

                 Apply Now for a Free - No Obligation Approval        

Click on the following:

Chapter 7 Bankruptcy Information Page

Chapter 13 Bankruptcy Information Page

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