Comments on: Are there loans available after bankruptcy or foreclosure?

By: GM

GM — Tue, 01 Nov 2011 18:48:20 +0000

Hi, I filed chapter 7 and it was discharged in Nov 2008 my primary home was foreclosed before the discharged but one of my investment property that was included in the bankruptcy is not still foreclosed? The loan was with countrywide and sold to BOA now. I don’t think BOA is going to foreclose it soon. Do i have to wait until they foreclose it and wait 3 years after that? I keep asking them when they’ll be foreclosing it but they don’t have the exact day. i’m really stuck. Is there a way for me to buy a house or am i really stuck with this for unkown years?

By: Dan Connolly

Dan Connolly — Wed, 07 Sep 2011 22:19:20 +0000

As I understand it, you will have to wait three years from the foreclosure date.

By: Clifford Smith

Clifford Smith — Wed, 07 Sep 2011 21:48:14 +0000

If i went bankrupt and houses where involved is it three years after the discharge ? I know they still go through a foreclosure process but i don’t have to wait for that to go through if i went bankrupt do i?

By: siteman

siteman — Sun, 28 Aug 2011 19:05:43 +0000

It was funded initially by mortgage insurance premiums and appraisal fees. It took till this year for the FHA to come to the Government to help make up a budget shortfall. FHA has recently started charging a premium based on credit scores as well. Conventional loans also have mortgage insurance. These loans are also subject also to normal qualifying guidelines with income and debt limitations. do these good standing debts have to be included in a ch. I still live in the house and pay the mortgage although it was included in BK. My current residence is hundreds of thousands of dollars upside down. Husband not on current mortgage and not a part of the bankruptcy. We plan to purchase the new house together.This is a great post. href=”http://bkhelper11.com”>google

By: Confused

Confused — Fri, 15 Jul 2011 15:54:05 +0000

Hi. I filed chapter 7 and it was discharged in Nov 2009. I still live in the house and pay the mortgage although it was included in BK. Will I qualify for a FHA loan once I have reached the two year mark? My plan is to get a new house and a new loan then walk away from the old one. My current residence is hundreds of thousands of dollars upside down. Looking to buy a house in the range of $325,000. Credit rating is 660 today. Husband not on current mortgage and not a part of the bankruptcy. We plan to purchase the new house together.

By: Laurie

Laurie — Sat, 25 Jun 2011 13:09:59 +0000

I had a foreclosure 2 years age and what to but a new home.Our credit score is 625 and we have 60.000 to put down on a new home. Which is 80% LTV. I read in April 2010 that if you had 80% LTV you might be able to get a FHA loan. Do you think it possible.

By: judy

judy — Sat, 25 Jun 2011 00:44:01 +0000

My husband and I are in good standing with our car loan(which has only one yr left) and our mortgage. do these good standing debts have to be included in a ch. 7 BK? My husband is the one who needs to file- but both of our names are on these good standing debts. can they be put only into my name before he files?

By: Alice

Alice — Mon, 13 Jun 2011 20:41:53 +0000

Hi.. I had a chapter 13 bankruptcy that was recently discharged.I was never late with a payment and even paid it off early…. I tried to apply for a house loan (rural) and was told I would have to wait 3 years from the date of discharge. We also tried FHA and was told the same thing. Is there any type of loan that I can qualify for without waiting 3 years? Were currently paying 900 a month rent and would really like to purchase a home.

By: Dan Connolly

Dan Connolly — Sat, 23 Apr 2011 12:18:09 +0000

As I understand it you need three years (36 months) from the date the house foreclosed. that is a minimum standard the banks can be more conservative than that if they choose. Talk to different lenders in your area to see what they are offering.

By: tina

tina — Sat, 23 Apr 2011 00:01:18 +0000

I had a bankruptcy which i included my home in 2007. My house was foreclosed in 2008. I am trying to buy a home now and its driving me crazy. I was told by the buyer who is also to owner of the home there arent any loans i qualify for. I also know that he got a much higher offer and i am wondering if he is trying to kill our deal. I am now trying to get a loan through a bank. What is the truth?? how long do I have to wait?? PLEASE HELP!