All the Best to you.
Let me get this straight, you went into BK13 because you couldn't pay your bills, now you want to buy another house and short sale your current home.
If your trustee allowed you and you are paying your bills per agreement, it would not stop you from getting a mortgage. What will stop you is the short sale. After the short sale you are not mortgageable until at least a waiting period of 2 years (being in BK13 is not a good excuse for a shortsale).
Question 4 - Can a mortgagor acquire a FHA-insured mortgage while in a Chapter 13 bankruptcy?
Answer - HUD's underwriting rules state that a person in Chapter 13 bankruptcy can purchase a home subject to a FHA-insured mortgage. Requirements are the applicant (1) must have completed one year of payments as required while under Chapter 13 and (2) must obtain a letter from the Trustee of the court, stating the dollar amount the applicant can borrow. See HUD Handbook 4155.1.
Bankruptcy â€“ Chapter 13 Waiting period 2 years from discharge date 4 years from dismissal date.
Is your BK 13 even discharged and dismissed yet?
Buy a home after foreclosure, short sale, deed-in-lieu-of or bankruptcy expert
Revolutionizing the Real Estate and Mortgage Markets
I'd be more than happy to walk you through this process.
Simply give me a call so we can discuss it further.
Daniel Di Matteo
619 512 0006
... howeverrrrrrrrrrr... If you are now short selling your home or back in 2010, you will need to wait 3 years from the sale date as it is considered a foreclosure with most lenders.
Depending who your loan or loans are with you can short sale your home and work with attorneys to expunge your short sale after. After the expungement you should be able to buy another home.
Call or email me if you would like more details.
619 861 6307
Villa Group Real Estate & Mortgage LIC#01360356