Bankruptcy & Purchase — Some Home Truths
You’ve gone through a bankruptcy and have lost almost everything, now you want to rebuild your life and what better way to do it than buying a house. So, if you’ve filed a Chapter 7 or 13, there is a waiting period and certain other things you need to consider before you buy that home. Hotlib.com reports:
To obtain a mortgage after filing a chapter 7 or chapter 13, you must wait at least two years after the bankruptcy is discharged. Moreover, individuals who have had a bankruptcy case dismissed must also wait two years before applying for a mortgage.
Read more: Buying A Home After Bankruptcy - How Long Should You Wait To Buy?
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