0
when will a person be egible for a fha loan after having been in bankruptcy?
Wiki User
∙ 14y ago
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.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
How do you know if a bankruptcy has been dimissed?
The bankruptcy trustee in charge of the case will notify the filer that the BK has been dismissed and the reasons for it having been done.
Are there any penalties or fines for selling your home after bankruptcy?
Not after the bankruptcy has been discharged. If the person is participating in a chapter 13 bankruptcy they must have the permission of the trustee/court to engage in any major financial transactions.
How can you get a title on a car that has had a bankruptcy against it It has been bought by another person who coulnt solve this problem The bank will not talk to us due to the bankruptcy?
What state is it titled in?
What should a person do if their Chapter 7 Bankruptcy has been discharged but a vehicle that was to be surrendered has not been repossessed by the bank?
A person immediately contact their lawyer to assist on issue.
If you have a promissory note from a person who filed for bankruptcy in Texas can you still recover the money you were owed?
No. In fact, if the debt is paid after a bankruptcy has been filed the entire bankruptcy can be considered invalid and all other debtors will be able to demand payment.
Can you include your home in a bankruptcy after the bankruptcy has already been discharged?
No.
Would assets in an inherited ira be protected from creditors in a chapter 7 bankruptcy?
No the IRA would no longer be protected having been inherited.
Bankruptcy Court Cases: Reasons to File a Bankruptcy Case?
In a touch economy, there has truly been an uprise in the number of bankruptcy court cases filed everyday. Filing for bankruptcy is something that should never make a person feel ashamed or guilty. Rather, bankruptcy is a normal part of what happens when the economy takes a turn for the worse and people lose their jobs. This article will discuss the best ways that a person can handle his or her bankruptcy situation. When a person feels that debt becomes too much to bear, then it may be time to file for bankruptcy. If a person is unable to make his or her monthly payments on credit cards or simply owes too much in loans, then it is a good idea for this person to begin considering the possibility of filing for bankruptcy. If a person is unsure whether or not he or she should file for bankruptcy, then it is a good idea for this person to consult with a bankruptcy lawyer. A bankruptcy lawyer often gives a free consultation to any person that comes into his or her office. This consultation will reveal whether or not a person qualifies to file for a certain type of bankruptcy, as well as whether or not it is in a person's best interest to file for bankruptcy. To file for certain types of bankruptcies, there are certain conditions that must be met. For example, if a person wants to file for a Chapter 13 bankruptcy, then he or she will need to have a regular and stable income. If a person is a student without an income, then he or she will be unable to file for a Chapter 13 bankruptcy. If a person also does not have any assets, then he or she will likely be unable to file for a Chapter 13 bankruptcy. It is truly a good idea for a person to carefully consider the type of attorney he or she gets to work on a bankruptcy case as well. A person will need to make sure that an attorney is qualified to work on his or her case. A person should always make sure that a lawyer is in good standing with the bar association of a certain state, otherwise a case may be dismissed in court. One does not want to have this happen in court, since it can often be embarrassing and cost a person a lot of money.
If you can no longer participate in your chapter 13 due to a job loss how can your employer keep taking out payments?
If the bankruptcy participant is no longer employed by the company then the deduction cannot be made. There obviously has been some miscommunication between the person and his or her legal counsel. The person involved in the bankruptcy needs to sit down with the attorney and straighten out the issue. It is doubtful without the participant having a source of income that the dismissal of the chapter 13 can be avoided.
How do you find out if your bankruptcy has been discharged?
Call the attorney or company that handled your bankruptcy.
After Chapter 7 bankruptcy has been Discharge can buy a home?
After Chapter 7 bankruptcy has been Discharge can buy a home
If bankruptcy has been dismissed can you file again?
If bankruptcy has been dismissed it is possible to file again. The trustee will require an explanation of why the first case was dismissed before accepting a new bankruptcy case.
