[gburke1]

I am very interested in moving to the Northwest Las Vegas area.

There is one problem... recently filed for Chapter 7. I know most places say you need to wait at least 2 years before you can qualify for a mortgage.

Currently, and for nearly the past 2 years I have been paying about $800 a month on average for rent. (Currently living in Overland Park, KS). Before that was paying about $500 a month for another year.

I have never missed a rent payment in my life.

I know that if I was to purchase a Condo the mortgage payments + HOA fees would still be less than my rent, AND I would own the place, which is one of the main reasons I am interested in moving to LV.

I have seen several condos priced around $60,000

I am wondering if there is any possible way or loophole that I could get financed especially based off my history of renting.

[whyhateme]

Sorry to say, at this time, as tight as financing is, I don't think you'll find financing easy. Will mostly depend on what you have to put down.

[gburke1]

Originally Posted by whyhateme

Sorry to say, at this time, as tight as financing is, I don't think you'll find financing easy. Will mostly depend on what you have to put down.

It doesn't have to be an easy way I am willing to do just about anything.

[airics]

what do you have to put down?

[gburke1]

Right now I have about 2k... I know that is not a lot but can come up with more pretty quick.

I run a cell phone business and inventory turns very fast so currently have been putting extra money in to my business.

How much would I need to get together before a lender would consider me?

[airics]

2k with a bankruptcy??? plus self employed? you'll need at least 20-30%... you may want to consider a lease to own.

[gburke1]

How would I go about finding a property I can lease to own?

I understand creditors view it as a risk, I just don't really understand the reasoning why because despite the bankruptcy and my self employment (I've been self employed for 2 years now) I have still never missed a payment for rent... housing is something essential to me and my business.

[yellowsnow]

You don't have enough cash. Sorry. Self employed and right after a ch 7 I think you would need 40 to 50% and even then you would get rates that border on usury.

You haven't lived here so how do you know you want to stay here or even if you can find a job? Finding a job is tough enough but you need to find a job with a living wage. Even harder.

Rent to own is the only thing I can think of that might work for you.

[gburke1]

I have family that lives in Vegas and I have visited Vegas several times before.

I won't need a job. The way my business works I could be in any city in the country as long as there is internet access I will be able to make money.

I am interested in Rent to Own though, my parents did the same when they were around my age and it worked out great for them.

[airics]

plus what did you show on your taxes last year? cell phone business doesnt look good to creditors...here today gone tomorrow.. do you have a physical location?