As with any financing, the financial institution underwrote your creditworthiness at the time you used and you may hopefully might remain because the diligent about becoming inside your function to repay the loans when you obtain your loan as you was indeed before you finalized your opposite financial, however, people further credit you get is your choice.
I can’t show if you’d getting approved or otherwise not unless we are able to understand why the credit rating was as reasonable as it is.
There are certain things we can work at once the several things you’ll much more considerably connect with your credit rating than simply it can the reverse home loan acceptance. The only method we possibly may understand certainly is to simply take a look at things and you will show.
In case your mortgage was a buy, there is a two seasons big date that you have to hold off however, if it is an effective refinance, there is absolutely no time period that must violation for as long as the case of bankruptcy is entirely discharged and you will finalized. Whether your mortgage is a purchase, through that a couple-12 months period, discover no further delinquencies on your own borrowing from the bank. In either such as for instance, there has to be aspects of new BK which can be beyond your handle and this can be confirmed (problems, death on the household members, work loss, North Dakota title loans etc). (más…)