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Answers (6)
Best Answer
- Sharon Lewis, "Sharon Lewis"
- Contributions:3923
I am so sorry you have had to go through this, its tough times. And I am so proud of you for getting back on your feet and moving forward!
You have to rebuild your credit, I am sure you already know that, and there is a waiting period. I would suggest you talk with a lender, your bank, credit union or one of the professionals here on Zillow on a one on one basis to find out how to move you forward as quickly as possible.
Here's a good resource page for you too.
http://www.homepath.com/resources.html
You have to rebuild your credit, I am sure you already know that, and there is a waiting period. I would suggest you talk with a lender, your bank, credit union or one of the professionals here on Zillow on a one on one basis to find out how to move you forward as quickly as possible.
Here's a good resource page for you too.
http://www.homepath.com/resources.html
- Elaine Manfredi, "Elaine Manfredi"
- Contributions:39
The length of time that you have to wait after a Chapter 7 Bankruptcy depends on the mortgage program that you choose. The waiting period is at least 24 months from discharge from some programs. If it's been more than 2 years, you should contact a local lender to see what your options are at this time. Good luck to you!
- misslady1980
- Contributions:9
Thank you all! :)
- Linda Strasberg, "L Strasberg"
- Contributions:2315
this is determined by how much you have to put down as your deposit on your next house...each situation is different and whether the bankruptcy was due to extenuating circumstances and if the circumstances have been resolved since
- Mark Gelbman, "Mark Gelbman"
- Contributions:222
Hi,
FHA requires a minimum of 24 months from your discharge before you can get a new mortgage. You need to make sure that you do not miss any payments during that time for any credit you use. It will also be a good idea if you can develop some new credit, as soon as possible. Please contact me directly for a more in depth discussion based on your specific situation.
Thanks,
Mark
FHA requires a minimum of 24 months from your discharge before you can get a new mortgage. You need to make sure that you do not miss any payments during that time for any credit you use. It will also be a good idea if you can develop some new credit, as soon as possible. Please contact me directly for a more in depth discussion based on your specific situation.
Thanks,
Mark
- Caveat Emptor
- Contributions:500
you can sometimes find "rent to own" sales. If I had the choice between renting my home to someone or defaulting, I'd definitely go for the former. you might have to do some legwork to find someone willing to talk about it though. There are also risks.
What kind of home mortgage loans, if any, are available after a chapter 7 bankruptcy?
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