I am in chapter 7 bankruptcy and will have discharged in August 27, 2012. Is there any way to get a mortgage on a new home

when was the start date?

Not likely this soon. I do not know of any lenders willing to do anything earlier than the 2 years from the date of discharge. Even then, you must have re-established your credit and have an acceptable (above 640) credit score. My advice is to begin the process of cleaning up your existing credit report and re-establishing your credit. That way when your penalty period is up, you can be approved. All the advice about Hard money or private lenders will only lead to heartache. Rent to own always end up working out for the landlord and rarely for the tenant.~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950

Most likely not until 2 years after your discharge. Maybe check into a Lease to Own with a home owner. In this market people are open to this idea, then in 2 years you refinance info your name.

You can not get an FHA loan until 2 years from your discharge date. If you want a conventional loan you will have to wait 3-4 years depending on the lender.

private money lenders, and if you have 5% for a down payment, there is a source that you can get into a home, the one that you want to buy in two yrs, and live there now, and make payments to a trust... linda

Your best bet is to try a lease to own. In the mean time do regular credit checks and make all your payments on time. You will have to re-establish credit, make sure that you don't let anything go to collection, and wait 2 years from the discharge date at a minimum.Good Luck!

Good morning - agree with the guidelines being quoted to you - 2 yrs on FHA, 3-4 on Conventional. However, you may want to look at doing a "Contract for Deed". Many sellers today are considering this form of owner-financing as long as there is a light at the end of the tunnel - aka you refinance the "Contract for Deed" with a lender in a specified period of time. Approach them with a 3 year deal - that will give you 2 yrs to escape the Chap 7 BK and 1 year too make sure your credit is above 640. Make sure everything is done through a title co (recorded as a sale w the county), try to get the seller to agree to amortized payments so you are actually paying down the balance, and consider making payments through the title co so there is a recorded history of on-time payments. Just my thoughts! If you need some additional info, feel free to contact me - 501-276-6786 or bfrench@topflitefinancial.com. Am a local lender w offices in Little Rock and Hot Springs. Thanks, Brian