Home Buying in 30213>Question Details

Zazoux, Home Buyer in 30213

can u buy a house after filing chapter 7 bankruptcy?

Asked by Zazoux, 30213 Sun May 13, 2012

Help the community by answering this question:


Anna M Brocco’s answer
Is the bankruptcy discharged, if so, generally it can take anywhere from two to four years from discharge date; much will depend on the circumstances that led you to bankruptcy, income, current credit, etc. For a personalized answer visit with any licensed loan officer.
1 vote Thank Flag Link Sun May 13, 2012
Here are FHA rules on buying after a bankruptcy: http://www.trulia.com/blog/elliott_r_oliva/2011/10/fha_rules…
1 vote Thank Flag Link Thu Jun 7, 2012
yes, you ca always purchase a home after a cup 7 bankruptcy with re-established credit and GOOD INCOME. Call our team, we would love to help 770-431-7458, http://www.AtlantaRealEstateSupersite.com
0 votes Thank Flag Link Sat Feb 1, 2014
You may be able to finance the purchase of a home two years after you have received your bankruptcy discharge, but you may qualify as early as one year after filing Chapter 13, or one year after discharge in Chapter 7.

Check if you qualify for a mortgage. Try http://www.whywaitbuytoday.com
0 votes Thank Flag Link Sat Aug 24, 2013
I had a buyer that wanted to buy a home in Arizona, but he had a Chapter 7 bankruptcy 7 months ago. After researching the web I found a loan program at http://www.cfsflex.com, they allow a mortgage after a foreclosure, short sale, or bankruptcy. There is only a six month waiting period. Good to see lending options coming back.
0 votes Thank Flag Link Sat Jun 29, 2013
Can you help us. I also had a bankruptcy two years ago. I believe I can come up with a down pay, some assistance if more than what I have. I lost my home because I lost my business. I have an excellent job and work extremely hard. I need to buy a home, a three bedroom, two bath and two car garage, prefer a home with one story. I need help to find some loan. My contact e-mail is umuolo@aol.com. I live in Peoria, Az. Thanks.
Flag Tue Mar 24, 2015
Dear Zazoux:

You can buy a home afetr a Chapter 7, once you have 24 monthes or 2 years from the Discharge date. It is very important to get that exact discharge date, since that is the date you calculate from, not the file date. If there was any real estate put in the Chapter then that will increase the time frame, based on when the house went to foreclosure, if that is the case, let me know and we can talk about that time frame.

Do our self a favor and try to re-establish some credit, small things, pre-paid CC or small one here or there, to show that you can maintain new credit in the utmost fashion.

Thank you for the opportunity to answer, if you have any further questions, please do not hesitate to contact me.


Lynel Adams
Sr. Mortgage Loan Officer
Silverton Mortgage
NMLS # 359696
0 votes Thank Flag Link Thu Jun 7, 2012
Absolutely you can buy a home the day after you file bankruptcy, provided you have the cash to buy it. If, on the other hand, you are looking to finance the property from a lender using Fannie, Freddie, or Ginnie Mae loan guidelines, you will have to meet the minimum waiting periods, discussed below, before you will be eligible to qualify for a loan.

All the best,

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct

We are a Direct Lender, Mortgage Bank where we originate, process, underwrite, fund, AND SERVICE our loans, in-house, with FHA (starting at a 580 score AND still only 3.5% down), FHA Streamline loans (NO minimum credit score, NO appraisal required) Go Green rehab loans, HomePath, Investor Friendly (10 financed properties), VA, USDA, Jumbo, Conventional, plus, we allow Escrow HoldBacks!
NMLS ID 263779 | AZ BK 359295
0 votes Thank Flag Link Sun May 13, 2012
For an FHA mortgage, HUD will allow a mortgage 24 months from the Discharge Date of a Chapter 7 Bankruptcy. Getting Pre-Qualified is the only way to find out your actual options. You can submit a Pre-Qualification request online at http://www.rodneymason.com.

Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle Renovation | VA | USDA | GA Dream | Jumbo Financing
0 votes Thank Flag Link Sun May 13, 2012
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