The more time that passes, the better your odds will become of obtaining a reasonable mortgage. Get professional help and shop around for a willing lender. Banks, savings and loans, mortgage banking companies, credit unions and other mortgage lenders follow different underwriting guidelines and lending rules and regulations. A sharp mortgage broker can help you figure out which lender is most likely to approve your loan application despite your impaired credit. When you're ready to buy a home, think small.
Lenders are more willing to risk smaller amounts of money.
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