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    CreditKarma Home Loan offers

    I have a CreditKarma account. There is a link to home loan offers. In the filter selections there is a drop down for 1) have you filed bankruptcy and 2) have you gone through a foreclosure. For both options, I've selected "Yes - in the last 1 - 12 months". Then I press Go and get almost 30 offers at 3.xx% rates. FWIW I also select 30yr fix and 20% down.

    I got over 30 potential offers! Now I know these are just potential but given the BK and foreclosure selections I wonder if there are banks with new underwriting standards for us folk. These potential offers come from Discover Home Loans, Amerisave, and a few others.

    I haven't clicked the "take offer" button to learn more, but curious if anyone has?

    #2
    If any bkforum members got a mortgage within a year of a foreclosure and bankruptcy, I am sure we would have heard about it. We haven't heard about it.

    The only way to know for sure if you will qualify for a mortgage is to apply for one, get into escrow, go through underwritting and actually get a loan funded. But, I suspect you aren't going to get through an initial qualification for most of the 30 offers. Just for fun, I logged into my CreditKarma account to see what offers I would get to refinance my $288,000 mortgage on a home worth $207,000. I got 69 offers with rates as low as 2.7% and I am still in a Chap 13. I highly doubt anybody is going to refinance my underwater mortgage. And if they will, it would be at a much higher interest rate.
    LadyInTheRed is in the black!
    Filed Chap 13 April 2010. Discharged May 2015.
    $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

    Comment


      #3
      Originally posted by LadyInTheRed View Post
      I highly doubt anybody is going to refinance my underwater mortgage. And if they will, it would be at a much higher interest rate.
      that is what I thought but why even have those options? I am def not in a hurry until I can save 20+% but I may give it a whirl. Will let u know if ido.
      we

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