Forgotten Your Password?

Need to Register?

Question Icon

How long after a bankruptcy can I buy a house

How long after a bankruptcy can I buy a house? FYI it's been 4 years since I filed by jakejo_716_861 from Watertown, South Dakota. Apr 26th 2012 Reply


Rick Van Den Top (RickVanDenTop)
#3 ranked lender in South Dakota - 7 contributions

Hi, We have mortgage programs available with a minimum of 2 years since their Bankruptcy has been Discharged. Give me a call at 605-359-1775 and we can discuss further.

Apr 26th 2012
0
0
Leonard Volodarsky (nyfha@yahoo.com)
#55 ranked lender in New York - 14 contributions

According to numerous guidelines, if it was BK 7, it has to be 24 months from the DISCHARGE date, not the filing date.Sometimes, underwriter will make an exception, due to extraordinary circumstances for filing BK, i.e. death, illness etc.With BK 13, it is usually 12 months of TIMELY payments as per schedule and subject to BK Trustee's approvalHope this info is of helpGood luck

Apr 26th 2012
0
0
Jeremy Davis (JJDavis918)
#25 ranked lender in South Carolina - 9 contributions

About two years as the other guys say. That's because now a days the banks are looking for consistency in income. Not just the score anymore. hopefully this will help you. Good luck.

Apr 26th 2012
0
0
William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,659 contributions

The time line starts from the Discharge date.. Not the date you filed... if it's been 2 or more years from the discharge date, you have satisfied that requirement, unless there was a home foreclosure involved with the BK... then the waiting period would be 3 years from the date the property transferred out of your name... you will still have to have re established credit, have sufficient scores, income, and satisfactory job, etc... The best advice I can give you is to contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Apr 26th 2012
0
0
Bert Carpenter (BertCarpenter)
#38 ranked lender in Arizona - 1,821 contributions

You would be eligible for a loan with as little as two years from the date the Chapter 7 was discharged. If it was a chapter 13, then it could be as little as one year from the date the petition was filed, as long as you have trustee approval and a clean plan payment history. Of course all other requirements would also need to be met. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

Apr 26th 2012
0
0
Subscribe to our news feed.