Posted on: 16th Feb, 2011 11:48 am
My current home value has depreciated approx. $30,000. Approx. 6 years ago we filed chapter 7 which included this house but have continued to pay. If we walked away now and gave it back to the bank what would happen and how long would it take to become approved for a new mortgage? We feel stuck in a bad market and was wondering if our previous bankruptcy would help.
3 years for fha - based on when the home was no longer in your name
The BK will not help in this case as far as future mortgages go - It will still be viewed as a foreclosure even if it is not notated that way.
B
The BK will not help in this case as far as future mortgages go - It will still be viewed as a foreclosure even if it is not notated that way.
B