Is there a mortgage after bankruptcy?

Sure there is. Even if you made the mistake of shoring up too much debt and were not able to cope with it at one point in your life, there are still people willing to make money off you by extending a mortgage loan.
This may take some time though. Typically, you may have to wait at least 12 months to qualify for a mortgage. Besides, you need to be ready for less favorable terms than people with super-clean credits – they enjoy the privilege of carrying less risk than you, and the world of finance is all about adequate compensation for the risk.

Anyway, if you are still thinking of borrowing money, you may want to make an effort to repair your credit history. A good place to start is to get a credit card once you can get one, and try to maintain regular payments so as to show these guys you have now learned your lesson and can keep up with these small payments.

Another thing you might consider is getting assistance from a credit counsellor. This should not be expensive, as in many states they will charge you the minimum amount, and in some you will be able to use their services for free. This is legitimate assistance that is often provided by the local authorities, or sponsored by communities or charitable organizations. You may want to pick one that is affiliated with the National Foundation for Credit Counseling or the Association of Consumer Credit Counseling Agencies, although this is not in itself a warranty of quality service.

Re-emerging as a credible borrower after a bankruptcy is a long journey, but you should keep away from dangerous shortcuts, such as forging a new credit identity and a new Social Security Number. This is quite illegal, as you surely know, and may put you in a situation far worse than just having a bankruptcy on your record.


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