Bankruptcy

[oldhack62]

Thread title: "FHA Loan after Chapter 13" Why does this sound like a VA issue to you?

[krielly]

Who peed in your Cherrios?

i was replying to the post by sgtm7, not the OP.

 If you read my post carefully, you would notice that I DO acknowledge the OP was talking FHA, but sgtm7 had mentioned a VA Guarranty.

I was trying to make it clear to them that if they were talking VA vs FHA, it was apples & oranges.

[tjb]

There is no waiting period after a discharged bankruptcy.. Edited

[miltrichardson]

Wife and I filed chapter 13 in August 2009.  Made our final payment in October 2010.  Should have our discharge papers in about 4 weeks.  I've been online looking for mortgages and cant seem to find a lender.  Would you mind telling me who you used?  Anyone else know of a mortgage company that works with people just out of chapter 13?

Thanks!

[leapa777]

Hello, My wife and I are also trying to find a lender who will service a recently discharged ch 13. Our income is very suitable, we never missed a bankruptcy payment, credit score is good, etc. Banks keep telling me to wait 1 or 2 years. However I see many places online where people are talking about being able to get a loan immediately after discharge, including this thread. Were you able to get any referrals to lenders and/or does anyone have a referral for who they used? Many thanks,

[leapa777]

Feel free to email me at [Edited]

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Hi leapa777,

I had to remove your email address because personal information is not allowed to be posted in the public forums per the Terms of Service. This is done for everyone's safety and security. You are free to exchange such information via PM (Private Message).

Thanks for your understanding.

-Marinevietvet, myFICO moderator

[beamMEup]

We did a refi with National City Mortgage six months after discharge of a CH 13.  Our BK was a non-issue; our FICO mid scores were 720 and 730.

National City Mortgage is now a part of the PNC Bank. Two months after we completed our refi, National City Mortgage transitioned to PNC Mortgage.

Hope that's helpful.

[SusannaLange]

Hi...I filed chapter 13 in 2008 and am about to be discharged. What bank did approve your loan? I have contacted about 10 mortgage brokers and all of them have a 1 to 2 year waiting period. We'd like to be able to get approved earlier than that if possible.

[MovingForward_2012]

You might want to start a new thread as this thread over two years old.

You typically have to wait 2 years from discharge or when the Chapter 13 is deleted off your credit reports, whichever occurs first. You can get approved before discharge but after discharge, you have to wait.

I had to wait 2 years from my Chapter 13 discharge to buy a house as well. Luckily, the 13 aged 7 yrs before the 2 year anniversary from discharge. I am closing in a week. I filed Ch 13 in Oct 2005 and it was discharged in Jan 2011. If you got the same answer from 10 different lenders, that should tell you that you can't purchase at home at this time. You will need to wait until Feb 2015.

Mortgage rules are very dynamic right now and requirements are getting stricter. This thread represents what was possible two years ago, not what is possible today.