Discharged part 9 debt agreement looking for a home loan.
Discharged part 9 debt agreement looking for a home loan.
Hi my husband and i are discharged part 9 debt agreement. We only had the debt agreement for 1 month. We sold our house to pay out debt agreement. We are currently renting at $350 a week. My husband earns around $60000 per year and i recieve around $13000 family assistance payments. We would like to know if we can some how be able to get a new home loan and start afresh. We dont have any savings.
- Otto Dargan
- Mortgage Specialist
- Posts: 7730
- Joined: Sat Sep 06, 2008 5:55 pm
- Location: Sydney, Australia
- Contact:
Re: Discharged part 9 debt agreement looking for a home loan.
Hi Amy,
I've got a few quick questions to better understand your situation and so that I can find out if you are eligible for a loan.
Thanks
I've got a few quick questions to better understand your situation and so that I can find out if you are eligible for a loan.
Thanks
Re: Discharged part 9 debt agreement looking for a home loan.
Hi, Not sure what you mean by part 9 lodged??? The whole approval prosess took about 2 months. The debt was about $70000 so we sold our house and paid of debt. We have been renting for about 7 1/2 months. Yes we having been paying our rent on time each week. We can obtain proof of rental payments. Im not 100% sure about defaults but i can look into this. We also have a car loan that has about $9500 left to pay also making payments on time which is $70 a week. Thanks Amyk..
- Otto Dargan
- Mortgage Specialist
- Posts: 7730
- Joined: Sat Sep 06, 2008 5:55 pm
- Location: Sydney, Australia
- Contact:
Re: Discharged part 9 debt agreement looking for a home loan.
So basically the Part 9 was setup around a year ago and paid shortly thereafter. You may qualify for a guarantor home loan with a security guarantee under the following conditions:
- Wait one more year so that it has been two years since your part 9 was lodged.
- Save a small amount, make regular savings of $50 - $100 / week or so. This is just to show you can save money.
- Make sure all your rent is paid on time.
- Pay off your car loan, again make sure all of the payments are on time.