Qualifying for a new mortgage after bankruptcy

September 14, 2009

Lenders will check your credit score to see if you have been paying your bills on time since the bankruptcy; You’re entitled to check your score from the three major reporting agencies, TransUnion, Equifax and Experian, at least once for free every 12 months at AnnualCreditReport.com.

The Federal Housing Administration (FHA) requirements are looser: You need to pay all of your bills on time for a year after declaring bankruptcy. You can also boost your standing with the lender, as well as your credit score, by establishing new accounts and keeping them current, she says.

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