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tyler Asked:

I an currently paying over 1400 a month in rent. my credit score is low just over 500. although I was recently able to purchase a new bmw and plasma tv in my own name over the last 6 months. I have a dismissed chapter 13 (dismissed with prejudice) due to a change in state from where I filed and paper work not being filed timely by my lawyer. I more over 76k. I am in the process of paying off the remaining items that weren't paid through the chapter 13. do I even stand a chance at getting a mortage? I would be a first time home buyer and looking at price range between 190-160k condo. [houston TX]

02/28/2008

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Answer Provided by: Danny S. Kim [03/20/2008]
 

Work on paying off your existing debt before getting into a whole messload of debt w/ a new mortgage. Build your credit score back up and you'll be on track.