Your odds of getting a mortgage after bankruptcy are good since the year 2010 and beyond. The reason behind this is simple, sweeping bankruptcy along with mortgage changes have made it far safer to get a mortgage today. It is extremely possible to obtain a mortgage after bankruptcy as there are lending institutions that concentrate on providing these kinds of mortgages for individuals who have suffered from a bankruptcy. These lending institutions are well-versed in the market of offering mortgages and choosing the money to cover that kind of market. The ultimate way to see if you be eligible for a a home loan after bankruptcy is wait two years before you do any such thing. The time has come when the individual bankruptcy enrollee really can manage to get thier life together and develop a budget and stick to it. The likelihood of finding a mortgage after bankruptcy have not been better since the Obama Debt relief Program has opened many doors for the ‘American Dream’. It really is in the waiting period of those two years where you can apply for a mortgage and show lenders exactly how honest and forthright you have been in repaying debts and not creating new and bad credit files. This is very important to demonstrate to the lending institutions then one that you will need to really concentrate on from here on out. For those that are tired of watching the hard-earned rental money fly out the window, it’s time to get intent on buying a fine mortgage. There are some ways as you are able to improve your chances on landing a mortgage after bankruptcy if you follow these easy directions. Firstly, you will have to have the ‘waiting period. ” Please make good financial choices during this time and only repay passed-credit and by all means do not add-on any longer new-credit files, during this important time. When you get past that 24 month long waiting period, you will notice blue skies opened and a whole new world of American homeownership! Do not be dismayed by fear. You may get a home with a bankruptcy since the very institution that is bankruptcy wants to reform and reward that reform with a home. The nay-sayers will tell you that it will likely be nearly-impossible to find financing for the home if you’re able to even look for a large financial company to accept you at all! The fact remains that in order that you can be given an after bankruptcy mortgage you may have to cover an increased percentage for a down-payment. Needless to say should you want to pay up to 30% you will have a line of lenders begging to take the down -payment money, greedily. Home mortgage brokers work for the banks and need to move property and in a big way each month. It’s in these little caveats of opportunity where you can find a dream home even after you have been dismissed on a discharge for bankruptcy and therefore are sitting on $3700 worth of disposal monthly income that’s burning a hole in the pocket.