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How long do you have to wait in Canada before purchasing a house after bankruptcy?
Wiki User
∙ 18y ago
I think it stays on your credit for 7 years, but you may be able to do an assumable mortgage with minimal money down
Wiki User
∙ 18y ago
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Why do we have bankruptcy mortgages in Canada?
Bankruptcy mortgages in Canada have been set up because having a house demonstrates some sort of equity on your part. The banks would prefer you to keep making payments on the house and therefore they will make more money then if they were to foreclose on it and sell the house at a discounted price.
How does surrendering your house in chapter 7 affect your credit report?
If you are surrendering your house anyways, it is usually better for your credit score if you do it through bankruptcy. If your house is foreclosed on before you file bankruptcy, then your credit score is hit by both the foreclosure and the bankruptcy. If you let your house go back through bankruptcy, instead, then your credit score is only hit by a bankruptcy.
Can you request that a bankruptcy be dismissed before the confimation hearing so that you can sell your house?
Yes.
If I filed for bankruptcy months before my house was going to go into forclosure & the bankruptcy was complete,then my house was just about to go into forclosure can I still apply for the Obama mrtge relief plan even though I listed my house in the bnkrpc?
Yes, you can still apply for Mortgage Relief after filing bankruptcy.
Can you sell your house before the confirmation hearing?
Are you referring to a Chapter 13 bankruptcy confirmation hearing?
Can you buy Canada computers in the United States?
If you want a computer manufactured in Canada while buying from the United States, the only way to do this is by purchasing the computer online. THat way it will be shipped out of Canada to your house.
Is it possible to declare bankruptcy while purchasing a home in order to reduce credit card debt without it affecting the loan approval?
No. The bankruptcy will for certain be dismissed with prejudice. The premise being, if the consumer had the money to purchase a house, they had the money to pay previous debts.
Can I keep my house and car out of a bankruptcy?
You are normally allowed to keep the house you are living in and one car in a bankruptcy.
Can you file bankruptcy on your house if already in foreclosure?
Filing for bankruptcy may enable you to recover your house from foreclosure. However the bankruptcy would entail dealing with your entire debt situation, not just the house.
Can you fiance a house after bankruptcy?
Yes, 3 years after discharge of the Bankruptcy.
If you had a lien placed on your house 2 months before you filed bankruptcy and you filed bankruptcy on that creditor is the lien still valid?
All liens survive bankruptcy. You can get rid of the lien by "avoiding" it. Look up "Avoiding Liens" in google or findlaw.com for more info.
Can you buy a house if you have filed bankruptcy?
No.
