Discharged Bankruptcy

Any general questions you might have in regards to loans and finance.
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Trish
Posts: 1
Joined: Fri Jul 16, 2010 8:58 pm

Discharged Bankruptcy

Post by Trish »

We have been discharged, currently in our 5th year.

We have $20,000 in the bank. Combine income $110,000.

Do you think a finance company will lend us roughly $350,000?

Thank you
Trish

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Otto Dargan
Mortgage Specialist
Posts: 7730
Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
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Re: Discharged Bankruptcy

Post by Otto Dargan »

Hi Trish,

You may be able to get a loan for 85% or 80% of the property value. 90% is unlikely. Do you think this may be possible? Discharged bankruptcy is very much a case by case basis as the rules that specialist lenders have are quite complex. Expect to pay a higher rate than normal bank rates.
Otto Dargan
Mortgage Broker
P | 1300 889 743
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