I've been watching closely on the news about mortgage lenders filing for bankruptcy and had a question.

Correct information must remain on the credit bureau report, so if there has been a judgment or bankruptcy, the information MUST remain on the credit file for the requisite number of years.

• No bankruptcy (discharged or dismissed in the last 12 months)

Anyone can guarantee a mortgage and most any lender would be willing to allow anyone in addition to the borrower provide additional guarantes, unless it chanaged the initial underwriting aspects (for example, someone who has jusdgments, bank ruptcy, etc.)

For example mention that you work with a lot of sellers headed to foreclosure and their best option may be bankruptcy and you can refer them business.

You might want to talk to bankruptcy attorneys and ask them for possible properties for sale.

Point out that the IRS doesn't forget, doesn't sleep and that even though you won't get any money, you'll be comforted to know that they'll owe 15% of your debt to an agency that doesn't forget, or sleep, and to which the debt is NOT ERASEABLE IN BANKRUPTCY.

And other things such as: Is you credit strong, how are your reserves, are the reserves seasoned, do you hold assets, do you have any MTG lates in the last 18 Months, have you declared bankruptcy in the last two years, and anything else that may help!

Is this doable, I ask b/c that's the only way I can see people making 5 digit figures on assignment fees, of course I'm sure it can be done w/ bankruptcies as well.

Have charge off's, a bankruptcy, or other derogatory info?