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yes, you can purchase a home while in chapter 13. However, It may be best for you to to wait until you are one day removed from bankruptcy with discharge papers. b/c you will pay a hefty interest rate. If you do this, it may be beneficial to get on a ARM with the goal to refinance w/in 3-5 years. The goal will be to have your FICO score w/ cash reserves (2-6 mos) in good standing before refinancing. good luck
What else can I help you with?
Is there anyway to purchase a new home while still in chapter 13 bankruptcy?
When participating in a Chapter 13 bankruptcy, all major financial transactions must be approved by the bankruptcy trustee. One of the factors the trustee will take into consideration is if the transaction is necessary. For instance the purchase of a vehicle for transportation to a place of employment would probably be allowed. The purchasing of a home might not qualify as a neccessity unless it was an issue of health/safety.
How soon after filing chapter 13 can you hope to buy a home?
The best time to purchase a new home after filing for Chapter 13 bankruptcy depends on how long your bankruptcy will be. If you have your payments on a five year plan, then you may have to wait a little longer.
Can you get help with home repairs while in chapter 13 bankruptcy?
Yes, you can seek help with home repairs while in Chapter 13 bankruptcy, but it may depend on your specific financial situation and the terms of your repayment plan. It's essential to prioritize necessary repairs, especially if they impact the safety or livability of your home. However, any new debts incurred for repairs may need approval from the bankruptcy court. Consulting with your bankruptcy attorney can provide guidance tailored to your circumstances.
How can you refinance your home for a lower interest rate while in a chapter 13 bankruptcy if you do not want to pay off the bankruptcy and do not want to 'cash out'?
While participating in a chapter 13 the petitioner cannot refinance, sell, transfer or otherwise real property without receiving permission from the bankruptcy court/trustee to take the action. Therefore the issues cited are not relevant until/unless permission is granted.
Can you get finance loan on an inherited home with o balance while in chapter 13 bankruptcy?
Yes, if the money is going to pay the balance of the plan, or pay 100% of all claims in the plan. Consult your bankruptcy attorney.
Is there anyway to purchase a new home while still in chapter 13 bankruptcy?
When participating in a Chapter 13 bankruptcy, all major financial transactions must be approved by the bankruptcy trustee. One of the factors the trustee will take into consideration is if the transaction is necessary. For instance the purchase of a vehicle for transportation to a place of employment would probably be allowed. The purchasing of a home might not qualify as a neccessity unless it was an issue of health/safety.
How soon after filing chapter 13 can you hope to buy a home?
The best time to purchase a new home after filing for Chapter 13 bankruptcy depends on how long your bankruptcy will be. If you have your payments on a five year plan, then you may have to wait a little longer.
After Chapter 7 bankruptcy has been Discharge can buy a home?
After Chapter 7 bankruptcy has been Discharge can buy a home
Can you lease your home after chapter 7 bankruptcy?
Yes
What companies will underwrite homeowners insurance while under bankruptcy?
What company will insure you when in chapter 13 if you home is not covered in the bankruptcy. If you have current insurance and the company is going out of business.
If you purchase a new home prior to bankruptcy is your new home part of the bankruptcy?
Yes, of course.
If I file Bankruptcy-7, will I be able to keep my 401k/ my home/ and my cay?
Chapter 7 is a liquidation bankruptcy, you are giving up your assets. If you want to keep your home and car you would need to file a Chapter 11 Bankruptcy.
Which bankruptcy is for a home?
You can file either Chapter 7 or Chapter 13 as a homeowner. If you are trying to save the home from foreclosure, then Chapter 13 would be the proper chapter.
Can you get help with home repairs while in chapter 13 bankruptcy?
Yes, you can seek help with home repairs while in Chapter 13 bankruptcy, but it may depend on your specific financial situation and the terms of your repayment plan. It's essential to prioritize necessary repairs, especially if they impact the safety or livability of your home. However, any new debts incurred for repairs may need approval from the bankruptcy court. Consulting with your bankruptcy attorney can provide guidance tailored to your circumstances.
Can you file for chapter 7 bankruptcy if you have equity in my home?
Sure.
Can you keep your home if you file chapter 13 bankruptcy?
yes
Can you sell my home while in a chapter 13 bankrupcty and keep the profits?
You will need to obtain the consent of the Chapter 7 trustee before selling any property of the bankruptcy estate.
