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Asked by Tom TRAN, Cape Coral, FL Sat Sep 8, 2012

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Jeff Metcalf, Agent, Saint Augustine, FL
Sat Sep 8, 2012
Contact a local lender for the most accurate info. They will do a free pre-approval and tell you exactly where you stand. Sometimes they can even give you a month and year that you will qualify again.

Good luck!

Jeff Metcalf, REALTOR(R)
Watson Realty Corp.
0 votes
Frank Glaab…, Agent, Cape Coral, FL
Sat Sep 8, 2012
The first step I would take would be to get with a mortgage broker or banker to see what they can do, but I've heard it's only about 3 years or so for it to recoup. I know a great mortgage banker if you are interested, email me at

Frank Glaab
Gulf Gateway Realty, Inc.
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Nathan Davis, , Fort Myers, FL
Sat Sep 8, 2012
The waiting period will be determined by the loan program you choose or are eligible for. An FHA Loan or VA Loan requires that you be at least 2 years from the date of discharge of a Chapter 7 BK. A Conventional Loan requires that you wait 4 years from the discharge date.

If this will be a primary residence, FHA would be a good option for you.

If you are interested in seeing about becoming pre-approved for a loan, please call me at 239-898-8841 or you can email me at

I hope this helps.
0 votes
Neil Blair-B…, Agent, Cape Coral, FL
Sat Sep 8, 2012
With FHA and USDA financing it is 3 years from discharge. I have sold a few homes to clients who used these 2 loan programs. You should contact a mortgage broker or lender as every person's scenario is different. If you want to buy something before the 3 years, you will have to find an owner financed home. I have access to a program that offers private financing to people like yourself. Feel free to visit my website for more details on the HOAP Homes program.
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Kevin Clouti…, Agent, Cape Coral, FL
Sat Sep 8, 2012
You have a couple choices. You should call a mortgage broker and ask. Circumstances are different for everyone.

Another choice is to looking at properties for sale where the owners offer financing for a period of time needed to allow you to refinance and pay off the owner.

I have access and have completed several owner financing transactions.

You need to have a downpayment and a steady income.

Call or email me directly if interested in talking further.


Southern Premier Realty
Cape Coral, FL
0 votes
Craig Zappin, Agent, Huntington, WV
Sat Sep 8, 2012
The best thing to do is to talk with a mortgage professional. Different lending institutions may have different guidelines. For example, Bank of America might not go by the same guidelines a local Credit Union uses. The important thing is to start building good credit (slowly) and maintain a good payment history. Also, keep in mind that lenders usually go by the discharge date, not the filing date for the start of their time/waiting period.
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