Can someone clarify for me? BK and FHA?

[MsChiGyrl]

Hi all,

 

I filed CH13 BK back in 2005 (long story, REALLY not my fault (parent stole identity) - unlike others lol). I was discharged in April of this year. Now I know I could have gotten an FHA during my BK13 with a year of on time payments. But what people on the board are saying is that now that Im discharged I have to wait 2 years from discharge instead of from filing? I thought the 2 yrs post discharge rule was only for Ch. 7s. Or is the law backwards and would let me take on a mortgage while making high plan payments, but then not once Im done paying? Makes no sense.

[Brian B The Loan Professor]

the guidelines say

 

A Chapter 13 bankruptcy does not disqualify a borrower from obtaining an FHA-insured mortgage provided the

lender documents that one year of the payout period under the bankruptcy has elapsed and the borrower’s

payment performance has been satisfactory (i.e., all required payments made on time). In addition, the borrower

must receive permission from the court to enter into the mortgage transaction.

 

the problem is if it is discharged then some banks insist on 2 years

 

B

[MsChiGyrl]

Thats awful. I guess I should have just bought them home while still in BK. Now it looks like Ive missed the tax credit. Are there any lenders who would approve on a discharged 13 like mine for FHA?