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Having a bankruptcy on your record can feel financially restricting. Declaring bankruptcy can cause your credit score to drop significantly and will stick around on your credit report for up to 10...
Type of bankruptcy. What it means for you. Chapter 7. Often referred to as liquidation, this type of bankruptcy means selling off your non-exempt assets to repay your debt.
Chapter 7 bankruptcy. Leslie Tayne, attorney and founder of Tayne Law Group in Melville, New York, says you’re eligible for a mortgage a few years after a Chapter 7 discharge of debt.
4 factors to consider before buying a home. Buying a home will inevitably affect your retirement years. Weigh these key factors to get a sense of what to look for in a new house or condo. 1. Lifestyle
Buying a house during a recession. Recessions often mean slower hiring, and even job loss. Obviously, this can make it harder to qualify for a mortgage and push buyers out of the market. But if ...
Key takeaways. There are two common types of bankruptcy: Chapter 7 and Chapter 13. Filing for bankruptcy is a time-consuming process that can take years to stop affecting your finances.
Pros and cons of online-only mortgage applications You’re about to ask to borrow a lot of money to buy a home, so it’s important to think carefully about what you need from a lender.
Chapter 13 bankruptcy allows people with regular income to repay debts over time, protecting assets and recovering financial stability. ... During this period, ... Pros and cons of Chapter 13.