1. Is it true that you need 3 open lines of credit or credit cards to apply fo
r a Mortgage?
My wife and I had our bankruptcy discharged in July of 2009 and per FHA guidelin
nes you need to wait 2 full years after the discharge to apply for a mortgage. R
ecently a mortgage banker told us we needed to make sure we had opened at least
3 credit cards or LOCs before we apply for the mortgage. We each had two and pre
fer to not get back in to the old habbits. We have busted our a** to get our cre