Posted on: 21st May, 2010 04:02 pm
I had filed for chapter 7 BK and it was discharged in October of 2008. My question is I had a Mortgage that I had included in the BK. I moved out of state 2 years ago and the house has yet to gone into forclosure but the property is said to be sold in July. I want to buy another home. My credit score is now 700. I was told there is no way I can get a loan even with 10% down on a house because I have to wait 3 years after the forclosure not the discharge to get a FHA loan. Is there any type of loan that I can get to help my situation? I have a great job and great income now. Does anyone have any idea if there is any help for me on any type of home loan? Thanks
Hi Leo,
After your property is foreclosed by the lender, you will have to wait for 3-4 years in order to get a mortgage. Before that no lenders would be ready to give you a loan.
Thanks
After your property is foreclosed by the lender, you will have to wait for 3-4 years in order to get a mortgage. Before that no lenders would be ready to give you a loan.
Thanks
Thanks... I figured that my Attorney told me that once the property is discharged in the BK it would be two years. And then a friend told me that I would not be able to get a FHA loan but that there might be a couple of other options that would work. One would be Fannie Mae. But guess not anyway thanks for your help...