Good people have good and bad credit and the 'why' they have a derogatory mark on their credit may be for a myriad of reasons. The good news is there is forgiveness, and they can re-enter the mortgage market depending on their individual circumstance and also after a certain period of time (along with re-established credit and a real good letter of explanation). I receive a lot of calls on this subject and hope the chart below helps for a general reference as to when a new mortgage will be considered.
For further information or if you have a particular scenario you would like to discuss, I am always just a phone call away 480-705-0199
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