Can I get a Mortgage Loan after filing for Chapter 13 Bankruptcy?

Question

I do not own a home, and am thinking about filing for Chapter 13 Bankruptcy. The question I have is, after I am clear and my debts paid, is it impossible to get a loan to buy a home?

Answer 1

I believe that it will stay on your credit for 7yrs, but if you fill out for a loan app and say you haven't declared bankruptcy you would have committed fraud.

I wouldn't suggest going through bankruptcy if you can avoid it.  Email me if you want [e-mail]

Answer 2

Yes, it is possible to get a mortgage after filing bankruptcy.  You will have to wait at least two years after it's discharged and you won't get the best interest rates.

You would be better off to wait longer and rebuilt your credit.  This would give you time to save up for downpayment and closing costs and with a better score, get a better interest rate.

Answer 3

It bothers me to see people filing for any bankruptcy.  Your credit can be corrected if you just do several things to straighten your lifestyle.  Begin by cutting out ALL your WANTS and some of the things you THINK you NEED.  If you have three cell phones cut back to one or two.  Yes you can get by on one.  If you are paying too much for TV service cut back.  Start on an austere food and life style program.  Start eating a lot of beans and rice.  Discontinue eating fast food.  Begin cooking at home.  NO MORE STEAKS, roasts and those expensive cuts reach for your favorite cook book and look up soups and stews.  Look around your house to see what you can get rid of.  Have a garage sale.  Go on the inet and look up Dave Ramsey and find a Counselor in your area.  If I lived in your area I could help.  God Bless.  Be proud of yourself do not depend on others to bail you out.  YOU CAN DO IT you just need to learn how..

Answer 4

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