Posted on: 04th Aug, 2010 08:52 am
After my divorce I was discharged from bankruptcy on 9/2009 and it has not yet been 2 years. It was only for $15,000. I have a credit score of 690 with a decent annual salary and my assets are paid for. I also have over $85K in a 401K. Am I truly out of luck on obtaining a mortgage with a competitive rate until after the 2 year mark?
Hi barlows!
Welcome to forums!
What type of bankruptcy did you file? If you filed Chapter 13, then you can get FHA loan after 1 year of bankruptcy discharge. However, if you had filed for Chapter 7, you won't be able to qualify for a loan before 2 years of your bankruptcy discharge.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
What type of bankruptcy did you file? If you filed Chapter 13, then you can get FHA loan after 1 year of bankruptcy discharge. However, if you had filed for Chapter 7, you won't be able to qualify for a loan before 2 years of your bankruptcy discharge.
Feel free to ask if you've further queries.
Sussane