Bankrupt and Scared? There’s Hope for VA Borrowers

Years ago, declaring bankruptcy meant financial doom for years to come. It was highly looked down upon, and left those filing little help for their financial future. Bankruptcy today, while not necessarily encouraged, is looked at in a different light. You will still be able to purchase a home in the future, but you must first work at building back your credit. After filing for bankruptcy, your credit score will drop anywhere from 130-240 points. In order to get back to an acceptable credit score, you have to give it some time. Lenders usually won’t consider you a good loan applicant before two years have passed. VA loans do offer some exceptions so be sure to speak with a specialist. Read the full article here: