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Is there a law that prevents getting a mortgage after Chapter 7 bankruptcy?
Wiki User
∙ 13y ago
No. Such a law would violate bankruptcy law, which prohibits discrimination by reason of bankruptcy.
The problem is usually getting a mortgage because of credit scores, which include many factors including the reasons for filing bankruptcy.
Wiki User
∙ 13y ago
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Where can someone find information about getting mortgage loans after bankruptcy?
Quicken Loans has an excellent section on how to obtain a loan or mortgage after filing bankruptcy. Most debt consolidation centers and bankruptcy attorneys will have information or references for those seeking information on applying for a post-bankruptcy loan or mortgage.
You are in your 47th month of a 60 month chapter 13 bankruptcy plan was never late with trustee or your mortgage you are waiting for court approvel to pay off early what are my chances of getting ap?
Your chances of getting approval to pay off a chapter 13 bankruptcy plan after 47 months is good. The court will review all information including the ability to pay off the plan.
How soon can you refinance after bankruptcy?
I can finance you one day out of bankruptcy....of course you will pay a much higher rate than those with good credit. After two years you can begin to get more favorable rates (through a knowledgeable mortgage broker, not a mortgage company). Contact me at gkinney@sedonafunding.com Depending on the type of Bankruptcy, you may be able to refinance as soon as it is discharged. If you filed a Chapter 13 bankruptcy, you have a better chance at getting financing than if you filed Chapter 7. Of course, with over 700 lenders at our disposal, we can probably get you financing either way. Call Allied Home Mortgage Capital...281-684-8580 and let's see what we can do for you.
Where can one find out about bankruptcy mortgage loans?
One can learn about their options for getting a mortgage loan after declaring bankruptcy by visiting the websites of businesses that offer mortgages. Generally, one cannot obtain any kind of mortgage for at least two years after declaring bankruptcy, but some companies may make an exception.
Difference of chapter 11 and chapter 7?
In chapter 11 bankruptcy, a business (usually) is trying to stay open by modifying its debts and getting rid of some. In a chapter 7 bankruptcy, a business is liquidating itself and usually has to shut down as a result.
How does one get a mortgage after suffering bankruptcy?
"Bankruptcy status remains on a person�۪s credit report for 10 years, but mortgage lenders want you to hold off on getting a mortgage for at least two or three years. If your post-filing debt payments have been reported to your credit agency as being on time, and you have steady employment, your chances of getting a mortgage financed increase considerably."
Where can one learn about getting a mortgage after bankruptcy?
There are a number of websites that offer great information for those that are looking to get a mortgage after bankruptcy. One can find out more information on site such as wikiHow, Nolo, Realtor or the SFGate website under the heading of homeguides.
If your Chapter 13 bankruptcy was dismissed for non-payment but you kept your mortgage up-to-date and now the mortgage company is starting foreclosure again is it possible to refinance after this?
this may be very difficult. You might have better luck talking to your attorney and getting back into a new BK 13. After some time you may be able to refi.
Can you buy a house after only one year in Chapter 13 bankruptcy?
Yes. In fact there are lenders who will provide home financing just one day out of bankruptcy. Contact a local mortgage broker (yellow pages). Mortgage brokers have many lenders to choose from and can help you easier than a local bank. The danger is, of course, that you'll be charged such a horrible interest rate that you're far more likely to end up back in the same situation--bankruptcy, foreclosure, etc. It's smarter to be patient, spend two years getting your credit in order, and then look at what sort of mortgage you can get.
Can you lease a car in chapter 13 bankruptcy without getting permission from the trustee?
You will need permission from the trustee before doing anything financial while in chapter 13 bankruptcy. You will have already signed paperwork agreeing to full disclosure with your trustee when you filed.
Can they hold your federal return in chapter 7 bankruptcy?
The trustee can ask you to turn it over to him if he knows that you are getting a refund back.
How can one get a loan if they have declared bankruptcy?
Getting a loan after bankruptcy can be difficult depending on what type of bankruptcy one files. A Chapter 13 bankruptcy, one cannot even apply for credit during the length of the bankruptcy. In a Chapter 7 bankruptcy, that is a different story. One can file Chapter 7 bankruptcy and as soon as it is discharged can apply for credit. The only problem with getting a loan after bankruptcy is that you may have to have a co-signer until you build up some positive credit.
