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What is the waiting period for purchasing a home after filing bankruptcy if a mortgage was included?
Wiki User
∙ 12y ago
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.
Wiki User
∙ 12y ago
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when will a person be egible for a fha loan after having been in bankruptcy?
To receive a FHA loan after one has declared bankruptcy one has to meet the following minimum requirements: payment on the bankruptcy for at least one year, court approval to enter into the mortgage transaction, and a minimum of two years waiting period from the date of discharge before he or she can apply for the loan.
What happens to an incomplete bankruptcy filing if the filer dies before its completion?
The filer has to be in person for the 341 meeting so the bankruptcy would be dismissed. A bankruptcy may still be discharged if they are just waiting on the judge to discharge the bankruptcy.
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.
What is the current jumbo mortgage limit?
currently any mortgage over $417000. is considered jumbo.. I'm waiting for this to change. It should be based upon location
Has the Omnibus Bankruptcy Reform bill been passed by Congress yet?
The last word was it was waiting editing of terminology, and has not become offcial. ALthough there have been some amendments added to Federal Bankruptcy Laws.
When can you open a bank account after being declared bankrupt?
You can open a bank account immediately after filing for bankruptcy. There really is no waiting period.
Can you get a fixed rate mortgage if you refinance your mortgage after bankruptcy?
Yes, if your credit score is OK, absolutely. Waiting 2 years after it's discharged may be a requirement. As long as your credit score is above 500 and your debt ratio isn't too high, you should be able to do that without a problem. Keep in mind that the rates on fixed mortgages are higher than those on ARM's. If you are just out of a bankrupcy, it may not be a bad idea to get into an ARM until your credit gets better.
Can you file bankruptcy and still get an insurance license?
ask your series 24 or 26 principal at work. I was able to apply for the series 6 after filing bankruptcy, so you should be able.
How soon can you buy a house after a short sale and bankruptcy?
This question is slightly more complicated than one may think. The answer depends on many things involved in both the bankruptcy and short-sale. Currently most lenders consider a short-sale the same way they consider a foreclosure, so you're stuck waiting 3, 4, or even 7 years before you can buy again. That being said, the FHA will allow you to buy a home again with no waiting period if you were able to short-sale your home without ever falling 30-day+ behind on your mortgage payments. That being said, we all know that many mortgage companies won't even entertain a short-sale unless you fall 60, 90, or 120 days behind on your payments. In the off-chance that you were able to successfully short-sale your home without ever falling behind on the payments, then we can go on to the bankruptcy portion of your question. Bankruptcies are treated differently depending if they are a chapter 7, chapter 13, or less commonly a chapter 11. A chapter 7 BK is a liquidation of debts with no payback. A chapter 13 allows you to roll-in the arrearages you owe on the mortgage, and get back on track but requires a payback period for all or a portion of the debt. This is naturally the option people choose when looking to file bankruptcy and save their home. The guidelines about getting a new loan after bankruptcy, again, vary depending on the lender and the loan program... but generally you're stuck waiting 2, 3, or 4 years from the DISCHARGE date of the bankruptcy. This of course assumes that by that time your credit has rebuilt enough to qualify (must be a 620 or 640 with most lenders nowadays). Lastly, if you haven't had a flawless payment history on the debts on your credit report since bankruptcy, it is very unlikely that a lender will entertain a home purchase for you regardless of your actual credit score.
Some of the public areas that were segregated included?
Schools, theaters, restaurants, clubs, waiting rooms.
Is a reverse mortgage available for a Is a reverse mortgage available for a 500000 home?
Yes, however the maximum lending limit from FHA will be going down later in the year, so it is wise to act now over waiting for your reverse mortgage. There are some private jumbo reverse mortgage products as well, but interest rates are much higher and the amount of money you get is less.
What is the waiting period included in the definition of period of restoration in the business income coverage form?
72 hours
