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Looking for a VA loan but going through a BK currently. What are my chances at getting a loan?

by jesse341 from La Mesa, California. Feb 19th 2016 Reply


Justin Murray (JustinMurray)
#102 ranked lender in Illinois - 172 contributions

If you filed a Chapter 13 and have been in the process for a year, I can help you. You would then need the courts approval to enter in a new mortgage, but the VA will allow it. Thank you,Justin Murray / JMurray@WintrustMortgage.com / (312) 256-4065

Feb 19th 2016
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,927 contributions

More info needed.. BK 13 or 7? How long have you been in BK.. When is the scheduled discharge date? Is there a real estate loan included in your BK?, if so, is the RE loan a VA loan? etc.. As Justin stated.. if your in a BK13, and you have been making on time payments for at least 12 months, then you can apply now.. but this is assuming there's not a pending foreclosure included with the BK.. Regardless, if you're looking at buying while in a BK 13, then you would need the courts permission.. If your in a BK 7, then VA has a mandatory waiting period of 2 years, but most lenders wont touch you unless it's been 3.. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Feb 19th 2016
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,225 contributions

As you see from other's response, it depends on the details. What kind of BK (may be possible with Ch 13 if you have made at least 12 on-time payments), when filed, how does your credit look otherwise, can you document on-time rent payments, etc.

Feb 19th 2016
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Dan Paladin (dpaladin)
#2 ranked lender in California - 430 contributions

Well Said Bill....Yes...take note of what Bill mentioned..not much to really add...need more info to accurately advise. Feel free to reach out to me.Regards

Feb 19th 2016
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Jesse Stroup (jessestroup)
#197 ranked lender in California - 591 contributions

Well the guidelines for bankruptcy chapter 7 is that you need to wait for two full years from the discharge date. The lender will look at your financial record after the BK, they don't want to see any late payments or collections.

Feb 23rd 2016
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