Profile picture for user516880

I just got discharged from my Chapter 13 do I have to wait 2 years to qualify for FHA Loan

  • March 08 2012 - Enterprise
  • 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 (4)

You are good to go now provided you did not miss any schedules payments to the Trustee
  • March 09 2012
  • 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 best way to know for sure would be to go to the bank and talk with them there. "
----
Cheryl, I've read your responses for a while now. Do you have anything to add other than telling people to go to their banks? You do realize this is an advice forum right? If you don't actually have an answer to the stated question, I would love to know why you bother answering and telling them to go get an answer which is exactly what they are trying to do.
  • March 08 2012
  • 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 best way to know for sure would be to go to the bank and talk with them there. Most banks have mortgage divisions that specialize in assisting you in getting a home loan. I really think once you are discharged that you can in fact move forward on a home loan. Your local lender will be able to tell you for sure. It doesn't cost a thing for you to talk with your banker so try getting with them for all the details. Thanks

  • March 08 2012
  • 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.

4155.1 4.C.2.h  Chapter 13 Bankruptcy

"A Chapter 13 bankruptcy does not disqualify a borrower from obtaining an 
FHA-insured mortgage, provided that the lender documents that 
• one year of the pay-out period under the bankruptcy has elapsed
• the borrower's payment performance has been satisfactory and all required payments have been made on time, and 
• the borrower has received written permission from bankruptcy court to enter into the mortgage transaction."
  • March 08 2012
  • 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.