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How Soon Can You Get A Mortgage After Bankruptcy?

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6 replies to this topic

#1 cjs681

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Posted 20 March 2017 - 05:41 PM

Good Evening Everyone,


I am hearing varying reports on how long one has to wait after bankruptcy to be eligible for a new mortgage.  Does anyone know definitively how long you have to wait, and if there is anyway to shortcut this process?


Thanks so much.


*Also posting this in the Bankruptcy Forum*

Edited by cjs681, 20 March 2017 - 05:41 PM.

#2 Brian B The Loan Professor

Brian B The Loan Professor
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Posted 20 March 2017 - 08:46 PM

2 years BK7 - in very rare circumstances you can get a loan at 1 year but you have to be able to prove that the bk7 was caused by events out of your control

faster for ch 13


What and when was your bk


#3 clc222

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Posted 20 March 2017 - 09:02 PM

Also, if you had an FHA loan that was IIB, it's 3 years from the date that the property was transferred out of your name before you can get another FHA (because you'll be in CAIVRS).

#4 cjs681

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Posted 21 March 2017 - 04:18 AM

Thanks everyone.


I had filed Chapter 7 Bankruptcy on 07/30/2014 and it was discharged 11/05/2014.


Credit Report as of yesterday shows:


Equifax: 684

TransUnion: 697

Experian: 704

#5 Brian B The Loan Professor

Brian B The Loan Professor
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Posted 21 March 2017 - 10:32 AM

You should be eligible for an fha loan now - 

#6 Daddy

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Posted 21 March 2017 - 08:14 PM

Brian B can take REALLY good care of you!

#7 clc222

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Posted 24 March 2017 - 11:33 PM

Cross reference: https://creditboards...60#entry5618686

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