Home Buying in Chicago>Question Details

denise stiger, Home Buyer in Chicago, IL

i want buy this home but i cant because im in chapter 13 i need some one to buy it for me i would give them 5,000 dollers an would sign agreement to

Asked by denise stiger, Chicago, IL Tue Feb 12, 2013

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8
George Raymondo’s answer
If you haven't already, please speak with a local lender so they see if you can qualify for an FHA loan. FHA only requires that you have paid on time for 12 months and have the approval from the Court's Trustee. Most people think a Chapter 13 is a road block for homebuyers, it is completely different from a BK-7 which has to discharged AND there is a minimum of 2 years waiting period in order to be consider for a home loan.

Best of Luck!
0 votes Thank Flag Link Thu Feb 14, 2013
you can actually purchase a home if you are in Chapter 13. You have to have 12 months on time payments to the trustee. Give me a call if you have any questions.

Sean Cochran
http://www.qmlending.com
630-330-2229 cell
630-470-6830
0 votes Thank Flag Link Thu Feb 14, 2013
Denise - Contact me and we can discuss further. 708-942-7039

Thanks,
Tony
redhotrei@hotmail.com
0 votes Thank Flag Link Wed Feb 13, 2013
Interesting, but you might be violating the law on this one. You might need to talk to your BK attorney about doing something like this. You would probably need to disclose to the court that you are involved in a deal like this.
0 votes Thank Flag Link Wed Feb 13, 2013
I can have people buy it for you if you put 25,000 in an account and sign an agreement that you get 15,000 returned after you rent the place for double the current rental market rate until you are able to finance it yourself.. if your serious this is a great deal..if your a typical person you will run away
0 votes Thank Flag Link Wed Feb 13, 2013
You might need to wait until after your chapter 13 is finalized before you buy a place.

Best regards,

Ivan Sagel
312.515.7823
Ivan@atproperties.com
0 votes Thank Flag Link Tue Feb 12, 2013
Maybe a friend or relative can help you with this.
0 votes Thank Flag Link Tue Feb 12, 2013
Maybe try a private lender. But I am not sure if that will help at all.
0 votes Thank Flag Link Tue Feb 12, 2013
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