Apr 29, · Qualifying for a mortgage after bankruptcy | Apr 29, | chapter 7 If you are overwhelmed by debt, then a Chapter 7 bankruptcy may offer you a good chance to not only cease any activity that your creditors in East Orange have taken against you, but also allow for the chance to re-establish yourself financially. 35 minutes ago · The good news is you won't be prohibited indefinitely from qualifying for a mortgage following a bankruptcy. After a minimum number of years, you . Nov 27, · If you think you may want to consider a Chapter 7 Bankruptcy later, then a reverse mortgage is not a good option for you. The reverse mortgage loan documents give the lenders the right to call the loan due and payable if you file the bankruptcy after you close the loan.
Related videosHow Long After Bankruptcy Can I Buy a House?
Chapter 13 When does Chapter 13 make the most sense for me? Do I qualify for Chapter 13? What documentation do I need to start Chapter 13 Getting Started What info do I need to get started How current does my background info need to be? What are the counseling and education requirements for filing?
How do I choose a good bankruptcy attorney? What should I expect from my bankruptcy attorney Recovering from Bankruptcy How will my credit be damaged if I file for bankruptcy? How do I go about rebuilding my credit score How long will it take before I can qualify for a mortgage or a car loan? Should I pay for someone to help me with credit repair post bankruptcy? Andresen, Esq.
The following two tabs change content below. Bio Latest Posts. Craig W. Craig Andresen is a Minnesota bankruptcy attorney who represents both consumers and small business owners in chapter 7 and chapter 13 cases. With thirty years experience, Mr. Andresen is a frequent speaker on the topics of stopping mortgage foreclosures, and stripping off second mortgages in chapter His office is located in Bloomington just across the street from the Mall of America.
Call his office at for a free consultation about protecting your rights using bankruptcy. Latest posts by Craig W. Tags: mortgages. No Comments. As you can see, filing Chapter 7 bankruptcy or Chapter 13 bankruptcy does not stop you from getting a mortgage in the future. In fact, it may even be the best way to get a mortgage. I have represented many clients that wanted to buy a house, but had too much debt to qualify for a mortgage.
I filed their cases, and then waited a few years, and then they were able to get the mortgages. I feel a lot of satisfaction when they call my office to ask for their bankruptcy paperwork so that they can give it to the loan agent.
These clients never call me back and say that the bankruptcy prevented them from getting the mortgage. If you want to buy a house, but have been declined because you have too much debt already, then Call Us now at How quickly can you qualify for a mortgage after bankruptcy?
Why is this? Qualifying also depends on: Whether you can make a big down payment How much income you have How much debt you have How much money you have on deposit Your credit history Whether there are any judgments against you How does filing for bankruptcy help? A bankruptcy does this by discharging debt and removing judgments, but allowing you to keep assets like retirement accounts So how long?