Posted on: 19th Jul, 2009 11:58 pm
I had asked a question and Sussane Smith answer for me, but I had the wrong bankrupcy, I told her a 7, but it was really chapter 13. What are the chances of getting another mortgage to buy back our home? I posted on July 15th if that helps with my a user name as wiggs
hi,
have you been discharged from chapter 13 bankruptcy? if the answer is yes, then when were you discharged? if you have made the payments on time during the chapter 13 plan, the lenders can give you a loan. you can qualify for a loan even if you're still in chapter 13. but in that case, the lender would want to see that you've made the payments satisfactorily for the past 12 months. nevertheless, obtaining a loan during or right after a chapter 13, is not easy in the current market scenario.
have you been discharged from chapter 13 bankruptcy? if the answer is yes, then when were you discharged? if you have made the payments on time during the chapter 13 plan, the lenders can give you a loan. you can qualify for a loan even if you're still in chapter 13. but in that case, the lender would want to see that you've made the payments satisfactorily for the past 12 months. nevertheless, obtaining a loan during or right after a chapter 13, is not easy in the current market scenario.
If the BK is discharged then about 1-2 years later if you try to fix your credit and do the right things you can get a mortgage in 1-2 years.