04-09-2009 05:42 AM
My Ch 7 BK was discharged on 2/19. My FICO score is a crappy 600. Does anyone know how long it takes before you can buy a house? Is it based on the credit score or length of time after BK discharge? Thanks in advance!
04-09-2009 08:16 AM
04-09-2009 06:46 PM
That is wrong information about FHA. My husband and I are 5 months discharged from a Chapter 13 bankruptcy and we are working with a lender for FHA refinancing. It is 2 years from discharge for a conventional loan. You do need a minimum score of 620 though.
04-09-2009 10:07 PM
04-10-2009 08:09 AM
Right. With chapter 13 you can apply the day after discharge. With chapter 7 you have to wait 2 years.
With either, if there was a foreclosure, deed-in-lieu, or short sale, you have to wait 3 years from when the property transfers.
04-14-2009 04:52 PM
04-21-2009 09:21 PM
04-22-2009 04:18 AM
01-08-2013 07:04 PM
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO