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How does bankruptcy or foreclosure change the dynamic?

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Financial problems happen to just about everyone. We've all been there. If you've experienced a bankruptcy or a foreclosure, it doesn't necessarily prevent you from entering the mortgage application process. Don't let a hiccup from the past keep you from your future – we'll work with you.

First, we'll want to know what caused the bankruptcy or foreclosure. If it was a situation beyond your control, there are many more options for you. Still, as you know, recovery from such a big financial hit can take more work.

For typical bankruptcies and foreclosures, we'll want to look at 2 to 4 years of your most recent personal financial history, including any loans, credit cards, income statements, retirement accounts and tax filings. We'll want to see that you have established new accounts since the date of your bankruptcy or foreclosure, and that your monthly payments have been made on time.

M&T Bank can work with you through the process. Talk to your loan advisor about your situation, and we'll figure out the best course of action.