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One more year left on chapter 13 bankruptcy. Can I get a home loan?

I have one more year left of my 3 in Chapter 13 bankruptcy. I was recently approved for a small credit card at a car repair shop that will be good to help rebuild my credit. I help take care of my disabled mother and make payments of two of her credit cards. I would like to get a small personal loan to pay them off so it would be also working towards rebuilding my credit since I make the payments any way. Do you know of any institutions that would work with me? I could use my car as collateral. by almostdone from Irwindale, California. Oct 7th 2009 Reply

JADYA MCNEILL (uslendingadmin)
#19 ranked lender in New Jersey - 7 contributions

Based on the information you provided and the fact that you are in a Chapter 13 Bankruptcy you should be able to apply for an FHA loan while in bankruptcy. As long as the Bankruptcy Trustee gives the OK to refinance and you provide a copy of the payment history showing you have been making all payments on time since the bankruptcy started and that your credit report does not show any other bad credit since the bankruptcy. You would have to pay the balance of the bankruptcy off at the mortgage closing. Depending upon the amount of equity/value of your home you may be able to get a mortgage amount that would pay your closing cost, pay the bankruptcy and pay off the credit cards.If you would like to provide additional information and discuss this further please feel free to contact me at 800-339-8582.

Oct 8th 2009
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