How to Buy a House After Your Bankruptcy
There is a common misconception among American consumers that filing for bankruptcy will prevent them from purchasing a home. In reality, a debtor is eligible for FHA financing two years after the bankruptcy discharge. However, applying for a mortgage is still a complicated process, so a debtor should speak with a bankruptcy attorney in Aurora first.
In this video, a consumer bankruptcy attorney explains how to purchase a house following bankruptcy discharge. As he explains, the rules and regulations of the Federal Home Loan Mortgage Association state that bankruptcy doesn’t preclude mortgage two years from the date of discharge. However, a consumer still needs to secure quality employment, establish good credit, and make a down payment to qualify.
At Cutler & Associates, Ltd. our bankruptcy attorneys provide personal, confidential legal counsel beginning at your free case evaluation.