Home Buying in Phoenix>Question Details

Stacie Corto…, Home Buyer in Phoenix, AZ

I filed Emergency Bankruptcy due to a divorce and massive medical bills after an extensive and expensive

Asked by Stacie Cortopassi, Phoenix, AZ Sun Jan 25, 2009

surgery and long time of being sick. How long do I have to wait after this bankruptcy to purchase a home? My attorney and I never discussed this....:)

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Answers

2
Stacie,

If you borrow FHA or VA you have to wait 2 years. If you borrow conventional it's 4 years.

You need to re establish at lest 2 lines of credit.

Go to your bank and ask them to secure a visa card secured against the money deposited.

This will get you started in the right direction.

I gathered this information from my wife who has been in the mortgage lending business for nearly 25 years now.

If you need further guidance or advice let me know.

Best of Luck,


Stew Keene
Ph (480) 220-7491
Fax (866) 711-8573
StewKeene@yahoo.com
Keller Williams - Scottsdale, AZ
2008-2009 Master of Real Estate award recipient
1 vote Thank Flag Link Sun Jan 25, 2009
5 to 7 years is typical. Sit back, rebuild your credit and your life
0 votes Thank Flag Link Sun Jan 25, 2009
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