Tag Archive for: chapter 7 bankruptcy

Can I Buy A House After Bankruptcy?

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Are you wondering if you can buy a house after bankruptcy? While it comes with its challenges, notably rebuilding credit and navigating waiting periods for mortgage qualifications, it is certainly achievable. Bankruptcy, while a setback, is designed to provide a fresh start, freeing you from overwhelming debts. If you're considering homeownership post-bankruptcy, whether it was Chapter 7 or Chapter 13, there are pathways to success. It should be noted that these same rules also apply if you want to just refinance your mortgage after a bankruptcy.Read More

Don’t Let Chapter 7 Bankruptcy Ruin Your Credit or Life!

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Have you thought about filing for Chapter 7 bankruptcy to free yourself from your debt burdens, and then wondered how it would impact your credit? If so, you’re not alone, as Chapter 7 bankruptcy filings are surging to record levels. We're often approached by worried homeowners who fear the impact of bankruptcy on their financial well-being. But what if there's an alternative that can save your credit and your peace of mind? This comprehensive guide offers insights and answers to help you navigate the tough decisions ahead.Read More

Mortgages and Bankruptcies: A Guide for Borrowers Seeking Home Loans

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Owning a home is a commonly shared goal for many, yet financial setbacks like bankruptcy often raise concerns about the possibility of homeownership. A common misconception is that bankruptcy automatically disqualifies borrowers qualifying for a mortgage. Fortunately, this isn't always the case and there's plenty of room for optimism and solutions for homebuyers. Bankruptcy is not a permanent barrier to homeownership.Read More

Chapter 13 Bankruptcy and Mortgages

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Chapter 13 bankruptcy is a legal process that allows individuals with regular income to reorganize their debts and develop a repayment plan over a specific period, usually three to five years. Unlike Chapter 7 bankruptcy, which involves liquidating assets to repay creditors, Chapter 13 focuses on creating a structured repayment plan while protecting your assets, including your home.Read More

Bankruptcy Seasoning Requirements For Mortgages

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If you have had to file for a bankruptcy case in the past, you may worry that you will never be able to purchase a property or qualify for a mortgage. Good news! A bankruptcy on your credit report does not automatically disqualify you from obtaining mortgage financing, and your bankruptcy needs to “season” before you can obtain mortgage financing.Read More