Will I still have to wait till 2 year mark of discharge?

[Anonymous]

Looking for a conventional mortgage soon,  however it has been only 20 months since discharge of Chapter 13.  I know the rule is you won't qualify for a conventional mortgage until 2 years after discharge, but Ch 13 has been dropped from all reports as well as all accounts that had remarks related to ch 13. Planning on waiting till the start of the year to apply which would put me at more than 7 years since filing, and at 22 months since discharge.   Could I apply for a conventional loan, or how could lenders or underwriters know when discharge date is if no bankruptcy trace is on reports?  

[Guyatthebeach]

In my opinion, you should talk to a loan officer to see what options you have available to you. Yes the rules are 24 months post discharge, but that doesn't mean you can't  start working on getting the loan now. 

Just my opinion. 

Guyatthebeach

[FireMedic1]

You should be good to go. But. There are many reporting agencies outside of the CRA's. Like Lexus/Nexis. As @Guyatthebeach posted. Talk to lenders.

[CH-7-Mission-Accomplished]

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@Anonymous wrote:

Looking for a conventional mortgage soon,  however it has been only 20 months since discharge of Chapter 13.  I know the rule is you won't qualify for a conventional mortgage until 2 years after discharge, but Ch 13 has been dropped from all reports as well as all accounts that had remarks related to ch 13. Planning on waiting till the start of the year to apply which would put me at more than 7 years since filing, and at 22 months since discharge.   Could I apply for a conventional loan, or how could lenders or underwriters know when discharge date is if no bankruptcy trace is on reports?  

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You're fine.   On a chapter 13, the delay is two years from FILING not discharge.    You were actually eligible on the day you were discharged.

https://www.rocketmortgage.com/learn/can-you-buy-a-house-after-bankruptcy

[Anonymous]

For FHA yes, but not for Conventional, I need a couple more months.

[FireMedic1]

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@CH-7-Mission-Accomplished wrote:

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@Anonymous wrote:

Looking for a conventional mortgage soon,  however it has been only 20 months since discharge of Chapter 13.  I know the rule is you won't qualify for a conventional mortgage until 2 years after discharge, but Ch 13 has been dropped from all reports as well as all accounts that had remarks related to ch 13. Planning on waiting till the start of the year to apply which would put me at more than 7 years since filing, and at 22 months since discharge.   Could I apply for a conventional loan, or how could lenders or underwriters know when discharge date is if no bankruptcy trace is on reports?  

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You're fine.   On a chapter 13, the delay is two years from FILING not discharge.    You were actually eligible on the day you were discharged.

https://www.rocketmortgage.com/learn/can-you-buy-a-house-after-bankruptcy

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@CH-7-Mission-Accomplished Come on dude. From the link for Chapt 13:

"If a court discharges your bankruptcy, the waiting period is 4 years from the date you filed and 2 years from your dismissal date."