Bankruptcy Chapter 13 being withdrawn, selling my house short sale, credit score 633, can i get a new mortgage?

Asked by Stevearby729, Langhorne, PA Mon Aug 15, 2011

I currently in chapter 13, but the trustee payments has ballooned to 1500 per month, so with my mortgage and all, it just makes my house unaffordable. So, I have decided to short sale my house. I am now not sure should I refile under chapter 7 and wipe out all my debt and start new, or should i let some old debt stay on credit report? Which will I be able to get a new mortgage with sooner?

Help the community by answering this question:

+ web reference
Web reference:

Answers

2
Gerard Carney, Agent, Spring Hill, FL
Mon Aug 15, 2011
you seem to think that after a short sale you can go and get another mortgage, That will not happen, it will take between 3-5 years for that to happen!
0 votes
Randy Pereira, Agent, Helotes, TX
Mon Aug 15, 2011
Check out the link below.

There is a helpful, "Waiting Period" Cheat Sheet you can click on, as well.

Hope this helps,

Randy P.
0 votes
Search Advice
Search
Ask our community a question
Financing in Langhorne Zip Codes

Email me when…

Learn more