Profile picture for user2387949

Are there any options for me to buy a home after Chapter 7 bankruptcy?

I had a bankruptcy Discharge in March 2011. After my bankruptcy I didn't take one of my installment loans as serious and it was reported late 2 times, the latest being June this year. Other than that I have been on time with all my payments everything else. All my accounts are paid. 

My credit score is above 640. I want to qualify for an FHA loan. March 2013 would be 2 years since the discharge of the chapter 7.


Are there any options or any lender that would work with me or get a pre approval prior to March 2013?
  • December 13 2012 - US
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Answers (2)

I suggest that you talk to a loan officer at a local bank.  In general, lenders report that they consider a Chapter 7 worse than a Chapter 13.  Having late payments after a discharge can be an issue.  You should ask the loan what you need to do to qualify for a loan, FHA or otherwise. 
  • December 13 2012
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Profile picture for wetdawgs
You need to sit down with a lender and explore the implications of lates as recently as June of 2012.    After a bankruptcy, not taking loans "as serious" is pretty serious.

  • December 13 2012
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