waymanvb, Other/Just Looking in 46051

Our bankruptcy was discharged in March 2012. How long will it be before we can reapply for a house loan,?

Asked by waymanvb, 46051 Wed Jan 15, 2014

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bobhope1215, Home Buyer, 46241
Thu Jan 16, 2014
You can try F. H . A. After one year if you did a 13. 2 -3 Years if you did a chapter 7. Remember it all depends on the state you are in -- the time period-- and when you started. here is a web site with good information --for the fed.http://homeloanartist.com/2011/08/buying-a-home-after-bankru… You can buy on contract anytime. For conventional loans you can do loans when you are final and the lender says enough time has passed-- that could be 6 years or more you just have to check. Don't forget reverse you can do that anytime you have 50% down or so without payments if you like.
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Diane Wilson, Agent, Anderson, IN
Thu Jan 16, 2014
There are so many variables to consider. Depending on your credit history prior to the BK and depending on your most recent credit history, some small banks may work with you. There is a brand new FHA program that may allow you to get a mortgage loan less than the previous 3 year time frame. But there are conditions of this loan and you must qualify in those loan guidlelines as well. I know of two lenders who are providing these new FHA Loans. Becuase of the economy and job market, I have found there is a need for other "options" in buying a home.. we have a system to help you. I do work with a credit coach if you desire that service. Please feel free to call or email.
765-640-1900 Diane
0 votes
Sharon Floyd, Agent, Indianapolis, IN
Wed Jan 15, 2014
It depends on the type bankruptcy (Ch 7, 11 or 13) and the type of loan you would be interested in. Please email me at sfloyd@c21scheetz.com and I will send you some guidelines.
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