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After a bankruptcy has discharged and closed, you may be eligible for a conventional mortgage as well as an FHA, VA or USDA loan if you qualify. “But you’ll need to meet the waiting period ...
Government-backed loans, like FHA loans and VA loans, are a bit more lenient, typically allowing applicants who’ve been discharged from Chapter 7 at least two years prior. FHA loans will also ...
For Chapter 13 bankruptcy, there is a two-year waiting period from the discharge date and a four-year waiting period from the dismissal date. The waiting period also depends on the type of loan ...
Bankruptcy – All debts discharged under a certain bankruptcy are regarded as non-taxable income. Non-recourse loans – In case of non-recourse loans, lenders repossess the property signed as collateral by the borrower as a remedy to resolve the loan repayment default. However, lenders are barred from pursuing their borrowers for the ...
Seasoning requirements can also apply to getting a loan after bankruptcy or foreclosure, and to mortgage refinances. ... (2 years with exceptions); 2 years from discharge or 4 years from dismissal ...
When you're going through bankruptcy, applying for a loan might be the furthest thing from your mind. "People can absolutely recover from bankruptcy," says Jordan van Rijn, senior economist at the ...