Profile picture for samtulana

How long before my daughter can buy a house if she files bankruptcy?

  • January 14 2010 - North Mountain
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (5)

I agree with the previous answers to this question. However, I do have one piece of advice. Go to a reputable lender. Internet lenders need plenty of research and make sure that they won't play the "creative finance" game.
  • January 15 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Ofe Polack
The bankruptcy needs to be discharged 2 years before she can purchase a new home.  Then she must re-establish her credit.  The best thing for her to do is to develop a business relationship with a lender who can guide her until he/she is able to obtain a loan.
  • January 15 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

The guidelines across the board is a bankruptcy has to be discharged a full 2 years before you can obtain financing for a new home.  Make sure she
re-establishes a positive credit history with at least 3 open tradelines and have no 30 day lates on any payments.  Hope this helps!
  • January 15 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I just sold a beautiful home to a girl who had a bankruptcy 2 years ago. The lender required proof of the discharge. She also qualified for the $8000 tax credit since it was a first time home buyer. Talk to some different lenders in your area to see what their requirements are.

Joelle Kahn GRI, ABR, ALHS
Long Realty
  • January 15 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Samtulana,
From what I understand a minimum of 3 years needs to pass from the final discharge date of the bankruptcy.  I would contact a local lender in your area to see if there are any loan programs which require less time.
David
  • January 14 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.