Posted on: 15th Aug, 2013 12:10 am
How long after Chapter 7 bankruptcy filing, am I able to get a mortgage? My Chapter 7 was cleared on November 2012. How long do I have to wait for a home loan or any rural development loan?
Hi Guest,
The date of filing Chapter 7 bankruptcy is not much important. You should be concerned about the date of discharge. After you get a discharge, you will have to wait for 2 years to get a FHA mortgage. If you want to go for a conventional loan, then you need to wait for 4 years after the Chapter 7 bankruptcy discharge.
Thanks,
Jerry
The date of filing Chapter 7 bankruptcy is not much important. You should be concerned about the date of discharge. After you get a discharge, you will have to wait for 2 years to get a FHA mortgage. If you want to go for a conventional loan, then you need to wait for 4 years after the Chapter 7 bankruptcy discharge.
Thanks,
Jerry
Welcome Guest,
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You can check out the credit repair tool in order to know more in this regard: http://www.mortgagefit.com/calculators/credit-repair.html .