Finding Lender after Chapter 7 BK

[Patrick Sears]

Hello,

I am just over 2 years out on a chapter 7 bk due to getting ahead of myself fixing up 2 single family rental properties (I kept the properties and they are now current with tenants and positive cash flow).

It's a great time to get back into the real estate game; in Richmond, VA where I live, fixed up inner city homes that can be bought for ~$75,000 give or take can be rented all day long for $1000 to $1200+.

The problem is, the banks I have been talking to are giving me grief due to the BK. My credit mid- score is ~680 now, even with the BK, and my income is over $140K/year.

Anyone have any ideas as far as lenders or govt backed programs? I always thought that 2 years was long enough to get past a BK filling, but maybe I was thinking of owner-occupied.

Homepath is a Fannie Mae program, and I believe they want 4 years :-(

Thanks!