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Home purchase while in a Chapter 13?

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ProudMomof5
Contributor

Home purchase while in a Chapter 13?

Has anyone purchased a house while in a Chapter 13?  If so, what was your experience and was it very difficult to get approved?  It'll be a year in August that I've been in my Chapter 13 and I am really looking forward to purchasing a house either by the end of this year or early next year.  I know that I have to wait at least a year if I want to go FHA but I just don't know how difficult it may be.

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SoulMaster
Established Contributor

Re: Home purchase while in a Chapter 13?

Wait until 18 months... it's actually written right into the FHA guidelines:

http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/nsc/faqgnsrv

 

Cheers,

 

-SM

I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of Late January 2016 All 700+. Last CR pull from a lender(housing) was mid-score 749.
Goal Score: 700+ - reached.
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