Question by : Best way to fix Credit in order to apply for a Mortgage?
I recently had applied for a Mortgage through a Realtor and got denied due to bad credit. He told me to file bankrupt and then wait two years to apply again. Now would it be better to try to go through a Debt Consolidator to fix the negative items on my Credit or just file Bankruptices?

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Best answer:

Answer by Steve N
Bankruptcy will get you the mortgage faster. “Fixing” your credit is best, but the banks are quicker to hand out a mortgage to a bankruptcy because

A: You’ll have no debt
B: You won’t be able to go bankrupt again to get out of there loan.

If you have auto loans or anything make sure you make arrangement’s with those banks so you don’t get repo’d.

What do you think? Answer below!