Late Payments After Bankruptcy and Foreclosure

Can I Qualify and Get Approved for a Mortgage with Late Payments During and After Bankruptcy? I know mortgage lenders want mortgage loan applicants with timely payments during and after bankruptcy. Any late payments during and after Chapter 13 Bankruptcy is the kiss of death and all mortgage lenders consider applicants who had a late payments during and after a Chapter 13 Bankruptcy a second offender and WILL NOT approve a home loan to the applicant. This applies the same with Chapter 7 Bankruptcy. From the filing date of the Chapter 7 Bankruptcy past the discharge, mortgage lenders consider any borrower who had a late payment a second offender and WILL NOT approve the borrower for a mortgage loan. Now, I heard the above text is a generalization of how lenders view for mortgage loan applicants with late payments during and after bankruptcy. However, it does not mean the mortgage loan applicant CANNOT GET A MORTGAGE LOAN APPROVAL., per Gustan Cho Associates. Can you please cover how to get a mortgage loan approval with late payments during and after bankruptcy? Here is a blog about getting a mortgage with late payments during and after bankruptcy.

https://gustancho.com/fha-guidelines-on-late-payments-after-bankruptcy/

gustancho.com

FHA Guidelines on Late Payments After Bankruptcy

FHA Guidelines on Late Payments After Bankruptcy does not disqualify borrowers. Late payments after bankruptcy is not allowed by most lenders

I was talking to my prospective lender today about the letter I received from Countrywide, wherein I informed her that the lates were corrected and showing current; then she asked for a copy of the payment transaction history.

Well, lo and behold, the transaction history is not updated and it shows that the payments were late and for the loan (Rapid Refi- 18 months on-time payments), this creates an issue because they do refer to the transaction history. Countrywide did update the credit bureaus, but not its own records.

Will it stop me from getting the loan? I have the letters from them stating the correction and I also have the corrected credit reports.

I wanted to know how long will one late mortgage payment hurt our overall credit scoring and FICO?

Can I Qualify For Mortgage With Late Payments After Housing Event And Bankruptcy?

If you have late payments after bankruptcy or foreclosure, lenders consider borrowers as second offenders. Borrowers with late payments after a bankruptcy or a housing event will have a difficult time getting a mortgage loan approval. Why do mortgage lenders consider borrowers having late payments after bankruptcy or foreclosure, as second offenders. Why do mortgage lenders consider borrowers with late payments after a bankruptcy or a housing event have a difficult time getting a mortgage loan approval. How can you get approved for a mortgage approval with late payments after bankruptcy or foreclosure?