It is possible, if the person you are co-signing with has better credit and makes more money they will probably go first on the loan though both of you will be on the mortage. Generally whoever makes the most income goes first, no matter the credit. It also depends on which type of bakruptcy you filed, chp 7 or 13. I deal with banks that can do chp 13 buyouts a day after discharge. Main thing now is obviously to make sure you pay all your bills on time, do not default on any credit cards or loans and especially do not get put into collections for anything.
If you are lucky, yes. But most likely, no lender will give you a mortgage loan if you are or have declared bankruptcy.
They should be, however if the petitioner does not list, they may not be notified. However, there are ways to verify if a petitioner has filed for bankruptcy.
legal rights of cosigner on mortgage
You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.
Yes, a person with bad credit can get a cosigner for a mortgage. The cosigner will have to have excellent credit and must go into the office to sign papers to become a cosigner.
Was the bankruptcy before or after the divorce? I don't think it matters however, the bank can always go after the cosigner on a mortgage if they didn't file bankruptcy as well.
If you are lucky, yes. But most likely, no lender will give you a mortgage loan if you are or have declared bankruptcy.
They should be, however if the petitioner does not list, they may not be notified. However, there are ways to verify if a petitioner has filed for bankruptcy.
legal rights of cosigner on mortgage
You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.
There is no specific waiting period. You can purchase a home as soon as you reestablish your credit to the satisfaction of any proposed lender.
Yes, a person with bad credit can get a cosigner for a mortgage. The cosigner will have to have excellent credit and must go into the office to sign papers to become a cosigner.
No, both parties on a joint mortgage do not need to file bankruptcy. They can file a joint bankruptcy or a single bankruptcy.
That is an issue between the mortgage company, the buyer and the cosigner. The seller's only worry is selling the property and getting paid.
There is no procedure for this. The mortgage must be refinanced.
Yes, bankruptcy protect you from foreclosure by your mortgage company. You can read more at www.hirby.com/mortgage-lender-filing-for-bankruptcy
Great question for your BK attorney