patrick
 |
Almost impossible, if you will need a mortgage.
Commerical mortgage companies shun BK filers.
You would most likely need private lending, and a lot of down payment. |
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lizgas
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actually its not hard at all i see ppl filing bankruptcy foreclosures left and right and in 2 years they are out buying again. depending on your score and down payment will be what really determines the process for you |
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Wannabe007
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Extremely hard... it will be a long time before it will be easy to buy a house. Its not impossible but very hard. Best thing is to rent a small place, save up the money and have a large downpayment - that will help mitigate the risk to a lender. |
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howie r
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if you can find someone to give you a mortgage it will be at a higher rate, you will need a larger down payment and will have to pay mortgage insurance for most of the mortgage. |
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godged
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Most lenders want to see about 2 years out of bankruptcy and a squeaky clean credit report since the discharges. Having a great downpayment will help. |
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LaVere B
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From what I was told, it takes not having any bad things for 2 years and a decent income |
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Weimaraner Mom
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Most lenders require that your bankruptcy be discharged 24 months before they will work with you, that's what I found. If you wont' be ready to purchase for almost 2 years then you should be good to go. It also really helped that I put down a huge downpayment.
Good luck |
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dalenjen
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you will definitely need a co-signer... |
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Michelle
 |
Well you will find it easier when you are 2 years out of it. You can find financing but may require down payments of like 10 percent. I would see what financing company your city or state uses for hud and go with them. |
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tacomadc
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What does coming out of bankrupcy mean? It is more than 7 years since you declared? I think in the current housing market it will be tougher than a few years ago, but it can never hurt to try. Cut up your credit cards for a starter, and don't buy ANY more crap on credit including boats, RV's, trucks, quads.... Buy your cars on Ebay, and everything else for that matter! |
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Lesley
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You typically have to wait about two years to get a mortgage, but I would recommend meeting with mortage lenders to get a definitive answer. |
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Joey Michaels
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I am sure there are some old banks for sale, they closed due to the subprime market. You can convert them to a home. You may not even need a loan! |
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Lelia
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Owners are begging and pleading with people to buy their homes. The prices are down, the mortgage rates are down. And they keep going lower. Great time to buy a home. |
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Rachel
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Extremely difficult! Coming out of bankruptcy it takes about 10 years for a bank to be willing to give you a home loan. Not to mention, the subprime market is dried up so it is difficult for anyone, even with really good credit, to buy a house without 20% downpayment. Renting would probably be the way to go. Good luck. |
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sheba
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Impossible, even with 20% down. The only way is to put it into somebody else's name. |
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