Buying A Home After Bankruptcy - Get A Mortgage Loan After Bankruptcy
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There are ways to get a down payment for your mortgage besides having the money saved in the bank. Here are some ideas of ways to do that:

1. Borrow or ask for a gift from relatives. After you have financed the house, you can usually go and take out a 2nd or 3rd mortgage up to the full value of your house, and then you could repay the relatives. Keep in mind that if you intend the money to be as a loan only from the relatives, you would need to disclose that to the lender before you close. Lenders usually have regulations about where the down payment is coming from and if you are not honest, it could be considered defrauding a lender.
   

2. There are down payment assistance programs like Neighborhood Gold or the Nehemiah program. These programs basically aid the seller in helping you with a down payment. Receiving a down payment from the seller of the property is illegal, but through these programs, it is legal. There are also other down payment assistance programs which are grants and do not need to be repaid or paid for by anyone. To find out about these, do a search on “down payment assistance” with your favorite search engine.
   

3. You could cash out a 401K or another investment and like in the first example, repay yourself with a 2nd or 3rd mortgage after the loan has closed.
   

Mortgage loans after bankruptcy are getting to be much easier to obtain these days. If you would like to see a list of our preferred bad credit mortgage lenders, visit this page: www.abcloanguide.com/lessthanperfectcredit.shtml.

About The Author Carrie Reeder is the owner of www.abcloanguide.com. ABC Loan Guide is an informational site with articles and lists of recommended lenders for bad credit mortgage loans. carrie@abcloanguide.com

Buying A Home After Bankruptcy - Get A Mortgage Loan After Bankruptcy
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Additional Resources

category - Home Buying Programs

How to Get a Government Home Loan with Low or Moderate Income
The government provides loans to those individuals who have low to moderate income for permanent residence in rural areas. To qualify for these government loans is not that hard and the restrictions ...

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First Time Homebuyer Programs in New York
The State of New York cares so much about its people. It looks out for them and constantly ascertains that their best interest is always protected. One of the ways in which the state has manifested this concern is through the establishment of the State of New York Mortgage Agency, more commonly referred to as SONYMA, which is a public authority established in 1970 designed to provide reasonable and affordable home-ownership opportunities to low and moderate income New Yorkers, especially to first time home buyers.

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Downpayment Assistance Program for First Time Homebuyers in Connecticut
The Connecticut Housing Finance Authority has been running the Downpayment Assistance Program in order to financially assist first time home buyers in the process of covering the downpayment and closing costs of purchasing a home.

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California Housing Finance Agency
The California Housing Finance Agency, otherwise known as CalHFA, is an independent, self-supporting agency that was chartered to as the State's affordable housing bank to make low interest rate loans through the sale of tax-exempt bonds; with these bonds being repaid by revenues generated through mortgage loans, instead of taxpayer dollars.

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