How to Buy Santa Cruz Real Estate after a Previous Bankruptcy

Posted by Lauren Spencer on Thursday, July 22nd, 2010 at 11:01pm.

A past filing of bankruptcy does not mean you can’t buy Santa Cruz real estate.  Your real estate agent may be able to help you get a mortgage or find other ways to buy a home, if you do get turned down for a traditional mortgage. 

Before you meet with your Santa Cruz real estate agent, here are a few ways to prepare:

  • Have a copy of your current bank statement
  • Have written proof of your monthly income
  • Make a list of all your current monthly bills
  • Collect all your recent credit card statements
  • Have a copy of your bankruptcy agreement

Put all this info in a file folder and take it to your meeting.  Your Santa Cruz real estate agent will appreciate you doing your homework!

If you have straightened out your credit since the bankruptcy, you are in a much better position to get a mortgage. Hopefully, you are currently paying all your monthly bills on time and rebuilding your credit rating.

The bigger your down payment, the easier it will be to get a mortgage.  So, where can you get money for a down payment?

  • Have you been having money taken out of your checks and put into a savings?
  • Do you have any money market accounts? 
  • Do you have money invested in mutual funds?
  • Do you have certificates of deposit about to come due? 
  • Will you be receiving a bonus from your employer?
  • How about a friend or relative who would loan you the down payment?

Hopefully, you are now ready to go shopping for your new home. To get started, give me a call today at 831.662.6522 or email me at



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About Lauren Spencer

Award-Winning Santa Cruz REALTOR®

Lauren Spencer is your local real estate expert, specializing in Santa Cruz real estate and surrounding communities—this is where she lives, works, and plays too. Let her know your questions about the community and county and she'll be happy to fill you in on all you want to know! Lauren Spencer has consistently been voted best local REALTOR in Santa Cruz and is always happy to offer her advice and expertise. Call her at: 800.226.4717.

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