Co-signer? & creative loans???

[moneytree]

The lender actually asked us if we could come up with a co-signer. Never heard that one before. What difference does a co-signer make? And even if we did have a co-signer, I do not think that is the best route here. I can just imagine the red tape involved, where wouldn't the co-signer be building equity?

I've been told that our lender can be creative and find us a loan that might just go on our history and credit score. Is that better or worse than an 80/20straight out of bankruptcy loan? What are the differences in rates?

Just gathering any info I can! Thanks!

[HHM]

That's a new one to me. What in the world does a bank need a co-signer for on SECURED debt. If I were you, I would walk back out that door and do not call these people back.

At the same time, you know my feeling about getting a home loan right out of BK, not a good move.