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How do you buy a house while in a chapter 13 bankruptcy?

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2006-08-23 19:16:35
2006-08-23 19:16:35

The chapter 13 petitioner/participant must receive the approval of the bankruptcy trustee for all major financial transactions.

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Related Questions


you can buy a house no matter what book you are reading.

Your bankruptcy attorney, who has particular knowledge of your situation, can answer your question.

After Chapter 7 bankruptcy has been Discharge can buy a home

Yes, you can buy a house for cash after filing for bankruptcy. The only issue is as to where those funds came from. If they were part of your estate at the time of filing and not disclosed, then you will have a problem.

While in a Chapter 13, all major financial transactions need the approval of the bankruptcy trustee.

While in a Chapter 13 debt repayment bankruptcy, you must consult the bankruptcy trustee before engaging in a major financial transaction, such as the purchase of a vehicle.

Yes, you can buy a house while in a chapter 13, you can buy anything you want but You need the courts permision. The most difficult part is finding a lender who understands that you can not add post filing credit to your bankruptcy. Most creditors believe that you can and won't give you the time of day let alone credit.Yes.However, there are programs available for you that do not require your CH.13 Bk to be discharged. Most of them only require you to have 24 months since bk filing date and a good payment history on your bk and any other reestablished credit.All major financial transactions entered into by chapter 13 participants must be approved by the trustee in charge of the bankruptcy.

Yes, you can buy a home after filing for bankruptcy. The question is going to be whether or not you can obtain financing. If you can wait 2 years after filing, you will have a better chance of obtaing a decent loan at a decent interest rate.

If you have filed bankruptcy because you cannot afford to pay your debts, a lender will not loan you money to purchase a house and it just doesn't make sense. You cannot continue to acquire assets while your assets are frozen and in the possession of the trustee in bankruptcy in a bankruptcy proceeding.

If you had an FHA insured home, you will have to wait for three years after the mortgage company claimed their refund.

If you buy a used car with cash before filing a chapter 7 bankruptcy, How long do you need in between purchase and filing to keep the vehicle if the vehicle meets exemption in a state?

The day you are discharged you can buy a car. You need to take proof that you are discharged.

When you file for bankrupt, you can wait for 2 years before u can buy a house.

i am not 100% about being able to buy a house, but you CAN keep your house if you already own 1,but you do have to pay any equity in the house to your liquidator.

The best time to purchase a new home after filing for Chapter 13 bankruptcy depends on how long your bankruptcy will be. If you have your payments on a five year plan, then you may have to wait a little longer.

i wouldn't sell it but instead invest in it till it adds value

It is possible to buy a home after filing and/or completing bankruptcy. Some companies supposedly have programs that allow 100% financing a day after discharge date or 2 years from filing date. You must also meet other guidlines but to determine if you qualify.If you have filed bankruptcy because you cannot afford to pay your debts, a lender will not loan you money to purchase a house and it just doesn't make sense. You cannot continue to acquire assets while your assets are frozen and in the possession of the trustee in bankruptcy in a bankruptcy proceeding.

Now. Go on and live a little. Good luck.

You can buy a car right after you get your discharge papers. Most Car Dealers offer special programs for Bankruptcy Discharges.

You can't make any new financial commitments without the approval of your trustee. After that, finding a lender may prove difficult too.

The day you get your discharge paper. I do caution against that because ANY bad mark after a bankruptcy is taboo and you will not be able to finance anything for a long time.

dont buy as many condoms, and you wont become bankrupt.

Thorn Apple Valley declared Chapter 11 bankruptcy in 1999 and was acquired by IBP Inc.


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