Can I Buy a Home After Bankruptcy?
Filing bankruptcy will disqualify you for a home loan for a while (see chart below). But sometimes not filing bankruptcy is worse. If you have a lot of past-due debts, perhaps a judgment or garnishment, or a high incometo-debt ratio, you’re not going to qualify for a loan.
Qualifying for a Mortgage After Chapter 13 Bankruptcy Sometimes, you can possibly qualify for a home loan faster if you file a Chapter 13 bankruptcy. As a general rule, if you make 12 on-time monthly payments to the Chapter 13 Trustee, you may well qualify for a home loan (FHA, VA, USDA, and others).
Qualifying for a Mortgage After Chapter 7 Bankruptcy
As a general rule, at least two years must pass from the date your Discharge Order was entered. Exceptions to this rule exist. "Don’t hold off filing bankruptcy because you’re concerned about buying a home in the future. We offer a free initial consultation so you can determine if bankruptcy is the best solution for your situation.."
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Robert Russell Law Office 516 SE Chkalov Dr #49, Vancouver, WA 98683, USA
frontdesk@rrlawgroup.com 360-882-8990
www.robert-russell.com