Keyword Analysis & Research: chapter 11 bankruptcy mortgage waiting period


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Frequently Asked Questions

When do mortgage waiting periods begin after Chapter 7 bankruptcy?

If you have filed a Chapter 7 or 11 Bankruptcy, the mortgage waiting periods begin after the discharge date: Fannie Mae (conventional) loan – 4 years from discharge date FHA loan – 2 years from discharge date VA loan – 2 years from discharge date

Can I get a mortgage after filing Chapter 11 bankruptcy?

It’s very possible to get a mortgage after filing Chapter 11. To get a government-backed mortgage after a Chapter 11 bankruptcy, you must make at least 12 on-time monthly payments into the plan and get approval form the bankruptcy judge. For conforming (Fannie Mae and Freddie Mac) loans, the waiting period is two years after discharge.

Is there a two year waiting period for Chapter 13 bankruptcy?

A two-year waiting period is permitted if extenuating circumstances can be documented, and is measured from the discharge or dismissal date of the bankruptcy action. A distinction is made between Chapter 13 bankruptcies that were discharged and those that were dismissed.

How long after Chapter 13 bankruptcy can I get an FHA loan?

The waiting period for getting an FHA mortgage after Chapter 13 bankruptcy is two years. It requires permission from the bankruptcy trustee – the person who oversees the creditor repayment plan – as well as proof of on-time payments on the bankruptcy plan. With a USDA loan, the waiting period is 12 months of successful plan payments.

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