 |
Mortgage In Bankruptcy |
| |
 |
Hi. I am writing you on behalf of myself. Is there any way I can get a mortgage if I have filed chapter 13 bankruptcy? I am on a five-year plan, which just began. I know people think you have committed a crime when you have filed bankruptcy. I had no choice due to losing a job. My job downsized. I am working now. I know mortgage companies grade you hard when you file bankruptcy. Please let me know my options. I want to get a mortgage if possible while in the plan |
| |
| |
 |
Reputable lenders usually consider making mortgage loans when several years have passed after the discharge, not the filing, of a bankruptcy. Occasionally they will make an exception if someone had a great credit record up until a single unavoidable occurrence. That might be something like an overwhelming medical problem, a business failure, or yes, a job loss.
Steer clear of predatory lenders, who will take advantage of your troubles by offering a mortgage loan with a ruinous interest rate. That would leave you with even more problems than you have now. You’d better plan on simply renting for some years to come |
| |
|
Edith
Originally published on November 6, 2006 |
| |
| |
|
Back to Summary
|
< Previous | Next > |
| |
|
|
