after chapter 7 discharge can i buy a house

can u buy a house after filing chapter 7 bankruptcy? find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

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Even after filing for bankruptcy, you may be eligible for a type of home loan. releasing you from liability for your debts, otherwise referred to as a discharge.. If you filed a Chapter 13 bankruptcy, you could still buy a home within. she was also building up her own credit enough to qualify to buy a house.”.

A proposal to build up to 221 residences on the Missouri Bluffs near the Katy Trail will need approval from five of the seven.

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You must wait 2 years after Chapter 7 bankruptcy discharge for a to qualify for FHA, and 4 years after a Chapter 7 discharge to qualify for a conventional loan. Buying a Car. You can buy a car while still in Chapter 13, but you need to get the trustee’s approval. After discharge, your approval will really depend on your credit score.

Shortly after buying the land the McMonigle partnership secured a construction. In April 2011, McMonigle filed for Chapter 7 personal bankruptcy, and quit the Pelican Hill Road partnership. In June.

In a Chapter 7 situation, you will need to wait 2 years after the discharge if the bankruptcy was beyond your control or 48 months if it was due to financial mismanagement. In a Chapter 13, you’ll need to wait for 24 months after receiving your discharge or 48 months if the case was dismissed by the court.

The Day After. It’s possible to apply for a loan the day after the bankruptcy is discharged — not filed, but discharged. Chapter 7 bankruptcy takes a few months for the process to be completed. Chapter 13 takes 36 to 60 months to reach the discharge, but you can buy a home within that time period.

If you can’t afford to pay your bills, bankruptcy can help you discharge your debts and start over. As soon as the bankruptcy case is closed, you can sell any of the assets you still own, including your home. However, selling your home after bankruptcy may be problematic if you plan to by a new one.