mortgage after bankruptcy chapter 13

 · Mortgage modifications can be obtained before, during or after a bankruptcy filing, even if the loan was not reaffirmed in bankruptcy.

For conventional mortgages you’ll need to wait four years after Chapter 7 bankruptcy or two years after chapter 13 bankruptcy. But there are some other mortgage options that require a shorter waits. FHA Mortgage. Two years after your Chapter 7 bankruptcy discharge you may apply for an FHA loan.

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Home buyers can qualify for mortgage after Chapter 13 Bankruptcy with no waiting period with VA and FHA Loans. Home Buyers in a Chapter 13 Bankruptcy Repayment Plan can qualify for VA and FHA Loans one year into their chapter 13 repayment plan. There is a two year waiting period after Chapter 13 on conventional loans

 · Today, filing for bankruptcy is not usually a financial death sentence. In many cases, mortgage lenders will say yes to your loan application while you are still working through a Chapter 13.

Sometimes, the client arranges for a loan modification with the lender during or after the bankruptcy. Other times, the client was a couple of months delinquent and merely remained one or two.

Qualifying for a VA loan after bankruptcy is certainly possible, often in a shorter period than you would with a conventional loan. With a Chapter 7 bankruptcy, lenders typically wait two years after the date of discharge. As for Chapter 13 bankruptcy, you may be eligible for a VA loan just 12 months removed from the filing date.

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Mortgage Arrears. If you want to keep your home, you’ll have to pay back all of your mortgage arrears by the end of the repayment period. This gives you three to five years to make up the arrears. This feature of Chapter 13 is one reason why many people facing foreclosure opt for Chapter 13 over chapter 7 bankruptcy. chapter 13 and Foreclosure.

 · My husband had a mortgage in a chapter 13 which converted into a chapter 7 and was then discharged 4 years ago. The underwriter is saying that the only way to prove to them that the house/mortgage was discharged in the chapter 7 is on bankruptcy.

The report also recommended a host of other reforms aimed at tweaking Chapter 7 and 13 bankruptcy rules. overhaul the Public Service Loan Forgiveness Program, which allows borrowers to wipe out.