Posted on: 16th Apr, 2011 06:31 pm
I am on SSDI and SSI and received my backpay a couple months ago. I put a dent in my debt, biggest first and had planned to go to a counselor to find out the best way to finish credit restoration. By others, my score is 550, maybe higher, I have been encouraged to claim the frightful bankruptcy. My city has a program to help 1st time home buyers and a know there are government,state and federal, to help disabled unfortunates. Mine is long term. I am 47 and eager to settle down. Will bankruptcy disqualify my opportunity for the help i have mentioned offered to me?
Hi wittemeg,
Welcome to Mortgage fit,
The program which you wish to opt for is for purchasing a new home and you will be getting aid for it.But if you file a Bankruptcy b4 that you will be no position to qualify for the program for first time home buyers.
In this situation i will suggest you that you should firstly avail the homeowners program aid. After few months you can opt for ch.13 Bankruptcy in which your payment plan will be modified suitable to you.
So you will be able to keep the house as well as you are able to pay -off the debt as per your convenience. But ch.13 BK won't relieve you from all the debt immediately..
For further information on the ch.13 Bankruptcy you may go through this link
http://www.mortgagefit.com/bankruptcy/chapter13.html
Do not take decision in hurry.You are advised to discuss this thing your family and friends so even if in future your decision proves to be wrong,your friends and family members will be always available to help you.These are very subtle aspect of decision making.
Feel free to ask any further query if you have...
DIPA
Welcome to Mortgage fit,
The program which you wish to opt for is for purchasing a new home and you will be getting aid for it.But if you file a Bankruptcy b4 that you will be no position to qualify for the program for first time home buyers.
In this situation i will suggest you that you should firstly avail the homeowners program aid. After few months you can opt for ch.13 Bankruptcy in which your payment plan will be modified suitable to you.
So you will be able to keep the house as well as you are able to pay -off the debt as per your convenience. But ch.13 BK won't relieve you from all the debt immediately..
For further information on the ch.13 Bankruptcy you may go through this link
http://www.mortgagefit.com/bankruptcy/chapter13.html
Do not take decision in hurry.You are advised to discuss this thing your family and friends so even if in future your decision proves to be wrong,your friends and family members will be always available to help you.These are very subtle aspect of decision making.
Feel free to ask any further query if you have...
DIPA