buying house after chapter 13 discharge

Buying after chapter 13 discharge? Asked by Kimberlyehmann, Cuyahoga Falls, OH Thu Dec 19, 2013. My husbands chapter 13 (which ended up all creditors being paid in full instead if partial) was discharged about a year & a half ago. We are currently renting a house that turned out to be in awful shape & want to buy a home as soon as possible.

 · Buying After Bankruptcy. The most common consumer-centric forms of bankruptcy are Chapter 7 and Chapter 13. The type you experience will play a role in how soon you can be eligible to purchase a home.

As the housing industry attempts to attract young adults and promote home buying. and for chapter 7 bankruptcy the waiting requirement is 4 years from the discharge or dismissal date and 2 years.

Chapter 13 bankruptcy explained Current waiting periods before buying a house after bankruptcy: VA. 2 years from chapter 7 discharge. 1 year of on-time payments for a Chapter 13; Low Down Payment Gov’t 2 years from chapter 7 discharge. 1 year of on-time payments for a Chapter 13; USDA 3 years for both chapter 7 & 13; Conventional 4 years for chapter 7; 2 years for chapter 13

td bank home equity loan rate based Shore Mortgage. and equity lines more attractive, at least for short-term borrowing, said Malcolm Hollensteiner, director of retail lending products and services at TD Bank, which currently.

Qualifying for a VA loan after bankruptcy is certainly possible, often in a shorter period than you would with a conventional loan. With a Chapter 7 bankruptcy, lenders typically wait two years after the date of discharge. As for Chapter 13 bankruptcy, you may be eligible for a VA loan just 12 months removed from the filing date.

A Chapter 13 personal bankruptcy. A home mortgage is backed by a house that the bank can foreclose on and seize. An auto loan is backed by a car. But a credit card is just a credit card. And if you.

Related: Buying Again after Foreclosure. For chapter 13 bankruptcies, the waiting period is two years from the discharge date or four years from the dismissal date. But, a two-year waiting period after the dismissal date may be permitted if the causes of your bankruptcy were beyond your control.

You must wait 2 years after Chapter 7 bankruptcy discharge for a to qualify for FHA, and 4 years after a Chapter 7 discharge to qualify for a conventional loan. Buying a Car. You can buy a car while still in Chapter 13, but you need to get the trustee’s approval. After discharge, your approval will really depend on your credit score.

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