Posted on: 20th Mar, 2008 08:55 am
Ok, does anyone know anything about the rural development program to purchase a home? I seem to fall within the income guidelines but dont see anything about bankruptcy.
http://www.rurdev.usda.gov/
FHA guidelines are:
Chapter 7 BK must be discharged 2 years prior to application
Chapter 13 may be considered after 1 year from filing date, and debts can be paid inside the loan
I believe these guidelines would also apply to USDA Rural Development loans.
FHA guidelines are:
Chapter 7 BK must be discharged 2 years prior to application
Chapter 13 may be considered after 1 year from filing date, and debts can be paid inside the loan
I believe these guidelines would also apply to USDA Rural Development loans.
in reading my guidelines today, i find the following:
Ch. 13: One year of the pay-out period has elapsed with satisfactory performance OR court approval received.
Ch. 7, 11 or 12: Discharged more than 36 months before application.
this is, indeed, the usda guaranteed rural housing program.
Ch. 13: One year of the pay-out period has elapsed with satisfactory performance OR court approval received.
Ch. 7, 11 or 12: Discharged more than 36 months before application.
this is, indeed, the usda guaranteed rural housing program.
