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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 ...
Conventional loans typically require borrowers to wait four years after a Chapter 7 discharge or dismissal to apply for a new mortgage. If you’ve filed for Chapter 13, you can apply two years ...
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 ...
The disadvantage of filing for personal bankruptcy is that, under the Fair Credit Reporting Act, a record of this stays on the individual's credit report for up to 7 years (up to 10 years for Chapter 7); [5] still, it is possible to obtain new debt or credit (cards, auto, or consumer loans) after only 12–24 months, and a new FHA mortgage loan just 25 months after discharge, and Fannie Mae ...
In the United States, with respect to taxes incurred by the bankruptcy estate (as opposed to the debtor) during case administration, a specialized discharge for the trustee, the debtor, any successor to the debtor, and (for cases commenced on or after October 17, 2005) the bankruptcy estate is provided in 11 U.S.C. § 505(b).
Bankruptcy waiting period. Foreclosure waiting period. Conventional loan. 4 years for Chapter 7 or Chapter 11 (2 years with exceptions); 2 years from discharge or 4 years from dismissal of Chapter 13
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