can i buy a home with a bankruptcy

There are 2 waiting periods in question, and your response isn't clear.. Bk waiting periods for FHA are 2 years.. however if there was a home included in the BK, or the home was short sold or foreclosed... then the waiting period now becomes 3 years from the date the home was transferred out of your name.. in your responses, you are not clear as to how the home was sold.. Did you sell it or was it sold by the bank?.. Big difference.. if you sold it as a regular sale, not a short sale, and not a foreclosure, but just a regular sale, then you will need to wait 2 years after the discharge date of the BK.. if the home was short sold, foreclosed, or deed in lieu, then the waiting period is 3 years from the date the home transferred out of your name.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

It doesn't matter if your home was included in the Bankruptcy or not. If you give a home back to the bank, or the bank takes it from you, then it is considered a foreclosure. Your waiting period for a new FHA loan is going to be three years plus one day beginning on the date the property was transferred out of your name. There may be some that will tell you otherwise, but FHA will NOT insure a new mortgage until the three years has passed. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950.

Yes you can, but there are waiting periods depending on the program you are looking to use. Also, there are credit requirements as well for Minimum Credit Score and Tradeline Requirements too. Happy to discuss your situation directly if you'd like. Feel free to contact me to go over this in more detail. Enjoy the night!

Hi Warren, you noted your house was in the BK, but what is the status of the house now?

was it a 13 or a 7? linda yourloanpartnerforlife@liv.e.com

Hi Warren, this blog post I wrote is a good resource to review. Different loan programs have different waiting periods http://www.epropertysites.com/blogs/1240435336/6/When-can-you-get-a-Mortgage-again-after-a-Negative-Credit-event.html

Hi Warren, I wrote a helpful blog post on the subject. Different loan programs have different waiting periods. Hope it will be a good resource for you. http://www.epropertysites.com/blogs/1240435336/6/When-can-you-get-a-Mortgage-again-after-a-Negative-Credit-event.html

This should answer your question - http://lendingexpertblog.com/buying-a-home-after-short-sale-foreclosure-or-bankruptcy-a-complete-guide/

The time line goes by the date the property was transferred out of your name, not when you moved out, or when you called the bank and told them you moved.. it's when the title is no longer in your name.. and, NO.. there are no lenders who will use the BK Discharge date as the starting point.. Also, when asking about the lenders bending the rules, let me say it's not the "Lenders"... All conforming loans are insured.. VA, FHA, USDA, Freddie/Fannie.. are all insured mortgages.. When you apply, you're really applying for the insurance.. once your approved for the insurance, then the lenders, or those with the $$, are more likely to lend.. it's not a given though.. most lenders have their own set of guidelines above and beyond what the insurance guidelines are.. but it's the first step.. so to answer your question.. NO... they are not going to "bend the rules"... not with borrowers who have both a BK and a Foreclosure.. Just not going to happen.. The banks are not in the real estate business.. they are in the money business.. foreclosures cost them time and money... and trust me.. the lenders are making plenty of money right now without having to lend to folks with the BK's and foreclosures... you're just going to have to do your time.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

You have a two year waiting period at a minimum after the bankruptcy.

2 years from the date of discharge for FHA.

Yes two years after the discharge date of your BK you can qualify for an FHA mortgage. You need to make sure you have re established credit and no lates on your credit since the BK.

Sure you can as long as enough time has passed to qualify for a home loan.

Here is the waiting period breakdown: Fannie Mae and Freddie Mac- Chapter 7 is 4 years from discharge or dismissal date. Chapter 13 is usually 2 years from discharge date. FHA and VA- Chapter 7 is 2 years from discharge date. Chapter 13 is 1 year of payout must elapse and payment performance mus be satisfactory; borrower must receive permission from court to enter into a mortgage.