Expert, localized Los Angeles answers provided by Heather Roy

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Buying After Bankruptcy

  I was wondering how hard it would be to buy a house after filing bankruptcy? Bankruptcy is 2 years in now.
 
  Most mortgage lenders will consider a new loan when four years have passed since the discharge, not the filing, of a bankruptcy.  It might make a difference if you had a good payment record up until one big problem -- a business failure, large medical bill, divorce.  In that case you might be considered two years after the discharge.
    Edith
Originally published on August 28, 2008
 
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