Profile picture for user1329651

where can i get a mortgage 1 year after chapter 7 bk

  • August 11 2013 - Canon City
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Answers (4)

Profile picture for SteadyState
The following may be harsh on your ears.
You had a recent bankruptcy - what did you learn from that event and what makes you confident that you will NOT file for  bankruptcy again soon after someone else lends you money?
If you can answer the second part of that question than a hard money lender (the rates will be very high and your knee caps should be insured) may be your only option.
  • August 12 2013
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Most lenders will require a 2 year minimum after bankruptcy in order to get a foreclosure, some strict lenders may even require 3 years. So it may be hard to find a loan that quickly with good rates.

Hope this helps and good luck!
  • August 12 2013
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Profile picture for davidhawke
If the Chpt 7 was filed for MEDICAL reasons... then you can get probably get an FHA loan 1 year out.  For non-medical reasons, it would be 2 years out with no exceptions.
  • August 11 2013
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Profile picture for wetdawgs
A hard money lender may consider a loan with approximately a 50% down payment and very high interest rates.
  • August 11 2013
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