If you want to discuss long and difficult processes, then bankruptcy recovery has to be at the top of, or at least near it, the list. Even when you have been discharged from bankruptcy or completed your debt agreement, there are lenders who will reject your application immediately. They aren’t interested in your current circumstances, they look at your history and they’re not willing to take the risk. Banks have a set list of rules that borrowers have to measure up against, they’re not particularly interested in your unique case or the circumstances that may have led you to this point.
It might seem like a lost cause, but that isn’t the reality of the situation. There is still hope for you yet! There are plenty of non-bank lenders out there who are happy to sit down and learn more about your circumstances and discuss your options. Non-bank lenders like Seek Mortgages are well-established in the industry and are passionate about people. Seek doesn’t believe that bankruptcy should stand in the way of you owning a home. That’s why they have designed a variety of products specifically to assist those with credit issues or who have been discharged from bankruptcy.
Bankruptcy shouldn’t remove your opportunity to own your own home, and non-bank lenders understand that mistakes happen. A non-bank lender will sit down and have a one-on-one conversation about the circumstances that resulted in your situation, the steps you have taken to rectify the issue, and what type of position you are in now. Progress matters to non-bank lenders in a way it doesn’t matter to traditional lenders.
There are still plenty of solutions available to you if you have entered a debt agreement or already been officially discharged from bankruptcy. With so many solutions available, you are sure to find one that works for you and for the lender, too. In certain situations, a lender may be able to assist you in finalising a debt agreement as an aspect of a debt consolidation feature in a home loan. You might not have known that was possible, but it is!
The point is that even when all hope seems lost, the truth of the matter is that all hope is never lost. You simply have to consider alternatives like non-bank lenders to pursue a different route to achieve the same result. Whatever your case looks like, there is no harm in reaching out to discuss your situation. The more information you provide us with, the better we can assist you in finding a home loan that suits your needs. We want to know what you need, what your situation is, how your credit problems occurred, and what’s happened in the time since then to ensure you are in a good position to secure a mortgage and make the necessary repayments.
If this sounds like assistance you need, then there’s no time to waste! Get in touch with us today to discuss your options.