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Is it possible for someone who has declared bankruptcy to obtain a mortgage with a co-signer to help re-establish credit?
Wiki User
∙ 18y ago
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.
Wiki User
∙ 18y ago
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Can you get a mortgage loan if you are in a chapter 13 bankruptcy?
If you are lucky, yes. But most likely, no lender will give you a mortgage loan if you are or have declared bankruptcy.
Will a cosigner on a mortgage be notified if a borrower files for 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.
What are the legal rights of a cosigner on a mortgage?
legal rights of cosigner on mortgage
Can a cosigner acquire foreclosed business property after the borrower files bankruptcy?
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.
If we have bad credit will a cosigner help us get a mortgage?
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.
2 homes with mortgage on both divorce and one files bankruptcy?
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.
Can you get a mortgage loan if you are in a chapter 13 bankruptcy?
If you are lucky, yes. But most likely, no lender will give you a mortgage loan if you are or have declared bankruptcy.
Will a cosigner on a mortgage be notified if a borrower files for 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.
What are the legal rights of a cosigner on a mortgage?
legal rights of cosigner on mortgage
Can a cosigner acquire foreclosed business property after the borrower files bankruptcy?
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.
What is the waiting period for purchasing a home after filing bankruptcy if a mortgage was included?
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.
If we have bad credit will a cosigner help us get a mortgage?
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.
Do both parties on a joint mortgage have to file bankruptcy on a joint mortgage?
No, both parties on a joint mortgage do not need to file bankruptcy. They can file a joint bankruptcy or a single bankruptcy.
Does the cosigner on a mortgage need to be on the purchase and sale so the seller is aware of a cosigner?
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.
What is the procedure to sue to be released from a mortgage as a cosigner?
There is no procedure for this. The mortgage must be refinanced.
Will bankruptcy protect me from foreclosure by my mortgage company?
Yes, bankruptcy protect you from foreclosure by your mortgage company. You can read more at www.hirby.com/mortgage-lender-filing-for-bankruptcy
If you filled for bankruptcy then modified a mortgage can the mortgage company come after you or will it still be in your bankruptcy?
Great question for your BK attorney
