New credit, but Want to buy!!'

Asked by Martha G., Orange, CA Sat Nov 17, 2012

My Husband is going to file for 'bankrupt'. Can he attempt to buy a home once his process is done? Or is it a necessity to build credit??
It's a shame he didn't take care of it, I guess he didn't think he'd start a family so soon in his life!

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3
Ingrid Ski R…, Agent, Mission Viejo, CA
Sat Nov 17, 2012
Hi Martha

There are a couple of lenders I know that will help you. Would need to get more information on your circumstancesof course.
Yes most lenders want you to wait a period of time because of the BK
Talk to you soon to see how I can help you

Ingrid Ski Realtor
949-874-0432
OCAreaHomes@gmail.com
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Erin Archibe…, Agent, Murrieta, CA
Sat Nov 17, 2012
Here in California, most lenders will require you to wait at least 3 years depending on the type of bankruptcy. However many lenders may require you to wait 7 years. It's best to check with your loan officer to get precise information.
Web Reference:  http://www.time2movein.com/
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Scott Godzyk, Agent, Manchester, NH
Sat Nov 17, 2012
Most mortgages require 2 years from the discharge to loan again. Yes he will need to rebuild credit. you could visit a local and trusted loan officer who can guide you with what he needs to do to get a mortgage in the future.
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