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Can you get a home loan if you have recently filed a chapter 7?


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Answered 2006-08-17 13:35:28

Not if the bankruptcy is pending. Once it has been discharged (preferably closed) then it is possible to apply for credit. Whether or not the applicant is extended credit of any sort is the decision of the lending institution.


Related Questions

after appearing in court on civil suit defendant informed court judge chapter 13 has been filed. Is defendant free and clear from paying personal loan?

You are going to need approval from the trustee handling your finances, but you can get a used car loan if you recently filed for bankruptcy. There will be drawbacks though: e.g. the interest rate and insurance rate will be significantly higher.

Yes, but the Chapter 13 debt will have to be paid off as a condition of the loan.

If you have just filed bankruptcy, you will not be barred from ever obtaining a mortgage loan; however, you will not be able to get one immediately. When you can get a mortgage after bankruptcy will depend upon the type of loan you want, the type of bankruptcy you filed, and how good your credit is at the time you want the loan.

There really are not too many requirements for someone that has bad credit and is looking to get an unsecured loan. One of the requirements is to not have recently filed for bankruptcy.

The deed is filed in the county courthouse. There will be a lien filed against it if there is a loan.

No you can not get a home equity line of credit but you can refinance and pay off the chapter 13 with the new mortgage.

Absolutely, there are many programs available to assist existing home owners as well as home buyers with financing home loans after bankruptcy and foreclosure. To obtain a home loan while currently in a chapter 13 bankruptcy it is very important to establish a good payment history. The company that will approve you for a home loan will need to have your payment history. They will also contact the trustee of your chapter 13 bankruptcy to receive permission or an ok to proceed with your home loan. To obtain a home loan after chapter 13 bankruptcy you will need to provide the following to your loan officer. Original schedules of your bankruptcy Discharge documents of your bankruptcy Proof that you have a satisfied discharge Proof that you have established new credit To obtain a home loan after a foreclosure. Maintained or established new credit Applying for an FHA Home Loan there is a waiting period of three years after the foreclosure proceedings have been completed. For Conventional Home Loans you will need to wait five years. Frank Thomas Sr. Loan Consultant 480-621-4270

Yes. Discrimination against a person for having filed for bankruptcy is prohibited especially for student loan applications.

A home mortgage modification mean, "a change in already approved home loan either in interest rate or in its duration etc". Recently Obama administration has modified some 500,000 home mortgage loan.

You guaranteed to pay the loan if the primary borrower does not. That is what a cosigner does. The lender is going to be looking at you for their money.

Cn you get a mortgage loan for ahome if you filed chapter7?

There are several benefits of an FHA home loan refinancing. An FHA home loan is one of the easiest to qualify for. If for some reason you decide to sell your home, the buyer of your home can then take on your loan, leaving you with less money to pay in the end. This is called being assumable. Even if you have filed bankruptcy or have gone through a bankruptcy, you can still qualify for most FHA home loans.

An automobile loan is secured by the vehicle title, meaning that the lending institution has filed legal notice of interest in the vehicle. Even if you file chapter 7 bankrupcy, the lending institution can repo the car if you don't make payments.

If you lost the home or no longer own it you can do chapter 7 (if eligible) and have this debt eliminated. If you are still in the home and want to keep the home but reduce or eliminate the second look at a Lien strip through Chapter 13.

If you are due a refund for taxes filed for the 2005 tax year, that refund can be siezed to offset the student loan - and every refund after that too.

To get a home loan while in chapter 13 bankruptcy is not that hard. The most important aspect of getting approve for a new home loan is your ability to repay the home loan. A lender may approve your home loan but your bankruptcy trustee may not allow you to get a new home loan. What you need to do is contact your trustee and lawyers involved with the case. You will need to get a payment history of your current chapter 13. Very important that you have never been late beyond 30 days for your current bankruptcy. You will need to provide you lender with all of your bankruptcy documentation to get approved for the loan. Once you have contacted your lawyers and trustee, they will request your most recent 2 year tax statements and will ask where is the down payment coming from. This is extremly important, unless you qualify for 100% financing or an FHA home loan. If you prepare yourself correctly there is about a 90% chance that you will get approved for a new home loan. Visit the page listed below for more information. We assist borrowers with purchases after or during bankruptcy to get new home loans.

The interest rates for a home loan from SBI have recently been cut down in January of this year.Now the rates range from only 9.70% as the base rate to up to 10.10%.

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