Posted on: 24th Oct, 2009 10:12 pm
hello i'm in the process of going through a chapter 7 bankruptcy, right now me and my girlfriend have plans on being married in the next 6 months.. we as all newly wedded couples do would like to buy a home. she has excellent credit and i know i can keep my self straight after the bankruptcy. how would my bankruptcy affect us buying a home. and i guess it'll be on my record for 10 years if i'm correct. thank you for any replies, god bless.
since she has a good credit score, she can purchase it without invoving you.
You can't use both incomes unless you're both buying the home together, so that's probably not going to work well for you, unless the homes are really inexpensive where you're interested in living.
You'll qualify for FHA, USDA and VA financing 2 years after the discharge date, if you don't have ANY lates on ANY payments during that period of time. Underwriters aren't flexible in that area. FICO score requirements keep increasing for those programs, so you'll need to work diligently to reestablish your credit during that 2 year period.
You'll qualify for FHA, USDA and VA financing 2 years after the discharge date, if you don't have ANY lates on ANY payments during that period of time. Underwriters aren't flexible in that area. FICO score requirements keep increasing for those programs, so you'll need to work diligently to reestablish your credit during that 2 year period.
