Can you possibly purchase a home and get it financed with an open Chapter 13?

Asked by Chris, Cape Coral, FL Wed Mar 21, 2012

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Tracy Vanlan…, , Cape Coral, FL
Thu Mar 22, 2012
You can purchase a home FHA 12 months into a chapter 13. We have to have proof of the past 12 months payment to the trustee and permission from the trustee. You also need to have some re-established credit and a 620 score.
1 vote
John Elkins, Agent, Cape Coral, FL
Thu Mar 22, 2012
Hi Chris,

This question can be best answered by a lending professional. Email or call me and I will give you a couple of great contacts.


0 votes
Dominick Cic…, , Cape Coral, FL
Thu Mar 22, 2012
That's a question you would have to ask the Chapter 13 Trustee. It would have to be approved there first..
0 votes
Kevin Clouti…, Agent, Cape Coral, FL
Wed Mar 21, 2012

That's a question for a lender. I doubt it but if it ends up being, yes. Email me the lenders contact info.

Kevin Cloutier
Southern Premier Realty
Web Reference:
0 votes
Professional…, Landlord, Cape Coral, FL
Wed Mar 21, 2012

Realtors are not lenders so you should really be directing your inquiry to specialists in the lending arena. Keep in mind that a bankruptcy filing is a serious derogatory mark on your credit profile, which may prevent you from qualifying for many loans, especially in today’s tight credit market.

Good luck to you.


Therese A Clapp, Realtor®
Century 21 Sunbelt Realty, Inc.
725 Cape Coral Pkwy W
Cape Coral, FL 33914
Primary: 239-542-4777

2011 Platinum Five Star Education Award Recipient
Community of REALTOR® Excellence
REALTOR® Association of Greater Fort Myers and the Beach, Inc.
0 votes
Chas Burdick, Agent, Tampa, FL
Wed Mar 21, 2012
I have seen it done a few times when I was in the banking world for many years. Only certain loan programs allowed it, and you had to qualify with the chapter 13 payments counted against your debt to income ratio. Most people in Chapter 13 didn't qualify because they were in financial trouble, which got them there in the first place, so they just didn't have the income to support it. It's tough, but possible. Check with an FHA lender, I believe they used to allow it, but I don't know if they still do.
Chas Burdick
Burdick International Realty Inc
0 votes
Margaret Has…, Agent, Tampa, FL
Wed Mar 21, 2012
I don't believe it's possible to get a loan through conventional channels with and open Chapter 13. I could be possible with hard money, a high down payment and a high interest rate.
0 votes
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