@BSBRose21 wrote:
My fiance went through bankruptcy in 2012. Discharge date 11/12.
His credit score is around 650 on all credit bureaus. Mine is around 700.
He did not include our home loan in the bankruptcy and have never been late.
Is there any way to get a loan before the two year waiting period?
What type of bankruptcy did your finance file - Ch 7 or Ch 13?
He had to include the home in his bankruptcy regardless. He might have elected to retain the home and continue payments, but the way to know for sure is to pull his entire BK petition from PACER to find out.
The new loan is for a purchase of another home or a refinance of the existing home? It depends upon the type of mortgage you and your fiance are looking for in the new home; conventional, or FHA.
He can get a new mortgage 4 years from his discharge date if he had filed a Ch 7, 2 years for extenuating circumstances if the new loan is conventional. If he filed a Ch 13, then it is 2 years from discharge. If the Ch 13 was dismissed and not discharged then it i 4 years.
If you are looking for a new FHA loan than it is 2 years from discharge with re-established credit for a BK Ch 7. If your finance can show extenuating circumstances than it can be less than 2 years, but not less than 12 months for a Ch 7.
For a new FHA loan with a Ch 13 filing he can get a new loan during the chapter 13 after 12 months of payments and trustee permission.
