Posted on: 26th Aug, 2010 06:03 pm
Hi,
Husband filed Ch. 13 bankruptcy in '05 and it was just discharged in April of this year. He paid his bankruptcy in full because back in 06 he went to the court for approval to get a mortgage. We ended up not closing because we couldnt get final approval (because of a mistake on our part). So here we are now - out of bankruptcy and want to get a mortgage... Where do we start? Is is possible?
Also - he is a veteran and is eligible for VA Loan...
Just need to know the right direction to head. Kind of scared to take the leap but so ready to own a home.
Thanks in advance
Husband filed Ch. 13 bankruptcy in '05 and it was just discharged in April of this year. He paid his bankruptcy in full because back in 06 he went to the court for approval to get a mortgage. We ended up not closing because we couldnt get final approval (because of a mistake on our part). So here we are now - out of bankruptcy and want to get a mortgage... Where do we start? Is is possible?
Also - he is a veteran and is eligible for VA Loan...
Just need to know the right direction to head. Kind of scared to take the leap but so ready to own a home.
Thanks in advance
hi sharondalbrown,
after a discharge of chapter 13 bankruptcy, you'll have to wait for 2 years to get a conventional mortgage and 1 year to get a fha loan. as the required time period after your bankruptcy discharge is over, you should start contacting the local lenders in order to get a mortgage. as your husband is a veteran, he should contact the lenders offering va loan and apply for the same. if your husband meets the required criteria of the lenders, he would get the mortgage.
after a discharge of chapter 13 bankruptcy, you'll have to wait for 2 years to get a conventional mortgage and 1 year to get a fha loan. as the required time period after your bankruptcy discharge is over, you should start contacting the local lenders in order to get a mortgage. as your husband is a veteran, he should contact the lenders offering va loan and apply for the same. if your husband meets the required criteria of the lenders, he would get the mortgage.