Home Ownership in 23661>Question Details

Chena827, Home Buyer in Hampton, VA

Hello, my husband and I filed a Chapter 13 and it is being discharged in January how long do we have to wait to purchase a home.

Asked by Chena827, Hampton, VA Tue Dec 4, 2012

We live in an apartment complex that the rent and the water fees are to high and we can't seem to save anything. We would like to purchase the house next to my mother in law.

Help the community by answering this question:


Normally the average time of period to buy a property after Chapter 13 is two years. But all depends, if you are in top of your bills paying on time and you did not over extend yourself. Always keep your debts no more than 20 percent of your income.

Best of Luck,

Maria Cipollone

Century 21 Tenace

1 vote Thank Flag Link Tue Dec 4, 2012
All of the response to your question so far are great, and they are correct. But the absolute key to everything is "Has there been any credit issues since you filed the Chap 13?" and "Did you make all of those monthly Chap 13 payments on time?"

If the answer is no to the first question and yes to the second... then you will be able to obtain home financing. And, you can get started now by obtaining a free, no obligation, prequalification http://www.peninsula-homes.com/request-assistance
0 votes Thank Flag Link Sun Dec 9, 2012

One of my preferred lenders at Towne Mortgage gave me a sheet with exactly that information.

I am not able to attach it here, but I'll be glad to send it to you. Please send me an email to Ronald@HamptonRoadsTeam.com for this detailed sheet.
0 votes Thank Flag Link Tue Dec 4, 2012
There is no waiting period after you file a BK13. You will need your payment history from your trustee to show that you have paid your bills per agreement.
0 votes Thank Flag Link Tue Dec 4, 2012
Check out this matrix on the options you have.

0 votes Thank Flag Link Tue Dec 4, 2012
I would suggest you call one of my top lenders Charlie White at Union Mortgage. His cell number is (757) 870-1491 tell him Michael Remy with Keller Williams Realty referred you. I assure you that he can answer your questions. He has been in the mortgage business for over 30 years. Then I will be happy to assist you I'm your home purchase. My cell is (757) 342-9202.
0 votes Thank Flag Link Tue Dec 4, 2012
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