One year must have passed since the discharge of your chapter 13 bankruptcy to qualify for FHA financing. Also, you must have established a credit history of at least 12 months since the bankruptcy. You are best to meet with a mortgage lender who can look at your situation and determine if you can qualify for FHA financing and if so, how much you can get preapproved for.
I give a free consultation where I review your credit, income & assets to determine if you would qualify. If you do not qualify, I will be able to show you what needs to be done to put you in a position to purchase a home as quickly as possible.
Should you have any questions, please contact me at the below phone or email.
Nick Nelson (NMLS#384413)
Community Bank of Rockford (A Division of Harvard State Bank)
2470 Eastrock Dr
Rockford, IL. 61108
815-289-0880 - Cell
firstname.lastname@example.org - Email
So you should talk to the court and see if you can get permission to enter into a mortgage.
I would be happy to discuss this with you and work with you on getting you into an FHA Mortgage. In IL, if you credit score is above 640, you may qualify for the IHDA Welcome Home IL DPA of $7500.
Many people are finding themselves in this position after the financial hardships many of us faced in the late first decade. FHA is designed for someone like you to get back on your feet and into a home of your own. Give me a call to discuss.
With warm regards,
Mary Kay Laurent
Associate Vice President of Mortgage Lending
o: 773.516.6859 - m: 312.403.4150 - f: 773.328.1740
3940 North Ravenswood , Chicago, IL 60613
NMLS ID: 870598
I work with a few lenders who may be able to help you. FHA requires that the borrower wait 12 months from the payout period of the CH 13 BK. As long as all payments were made on time and you can get permission from the court to obtain a mortgage, we shouldn't have a problem with your BK. Please let me know if you have any additional questions or if you would like to get started with a free professional assessment.
Market Place Mortgage