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Posted in Bankruptcy
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Question By
Iceb

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0 People Helped
How can I buy a house after bankruptcy

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36 People Helped

Bought a House

Helpful to 36 out of 39 people

Bought a house 3 years ago with a USDA loan and have a bankruptcy from 2008 that was with 100% financing only had to put 500 in an escrow account

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32 People Helped
Most Helpful Response

buy a house

Helpful to 32 out of 33 people

You can go through FHA (not gov) to buy a home with a credit score of 580. They as if you filed bankruptcy also. It does not matter, because of the mess in 2008 lenders are out there, just have to hunt. 18mths is the longest now.

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19 People Helped

Not easy

Helpful to 19 out of 20 people

I managed to do this, but it took time and it was not easy. Since the mortgage fiasco they have cracked down on buyer qualification. Once my score went above 620, and it had been a few years, I finally qualified at a good interest rate.

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10 People Helped

Helpful to 10 out of 11 people

i bought a building in banruptcy just had to get the bankruptcy jude to sign off on my payment history with them and i was able to buy thru a fha loan 

a 2 flat in chicago with very little down. no problem  this was in 2016

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0 People Helped

I AM A SINGLE DAD AND I LOST MY HOME IN THE LAST FEW YEARS DEW TO THE WAY THE ECONEMY  WASDURING 2010 -2014

I WAS ABLE TO KEEP MY HOME TILL I WAS FORCLOSED ON IN 2015 SO MY QUESTION IS HOW HARD IS IT  GOING TO BE TO GET MYCREADIT SCORE BACK UP TO 780 SINCE ALL THAT MY SCORE IS AROUND 524 SINCE I HAD SOME HARDINQUIERIES BUT WAS RISING PAST 580 ? MY DAUGHTER AND I WANT TO BUYA NEW HOUSE AND START OVER SO IF YOU HAVE ANY HELPFULL ADVICE THIS WOULD BE WELL APPRECIATED  :)

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4247 People Helped

Helpful to 5 out of 14 people

My understanding of how bankruptcy might affect a house purchase involves checking one's credit for the previous ten years to make sure a bankruptcy is not on file.

Reply by
yackyack2000

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55 People Helped
Helpful to 55 out of 56 people

I will be 1yr out of BK in July 2017 and have spoken to a few lenders and the new regualtion laws require a 2yr disharge date before u can buy a home. Even FHA requires 2yrs from the date of discharge to finance your new home.and yes credit score can be as low as 580.  I just spoke to Quicken Loans a few days ago who is now a lender / servicer and they have a program called Advantage Credit and it only requires 1yr out of bk from the discharge date and a 640 credit score, and u can have 1 x 30 day late. If u really are pressed to get yourself a home u may still have the option to go the untradtional lending way by contacting the hard money lender market.

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