My chp 7 bankruptcy was closed 3/31/2011, is there a chance for me to receive a loan on my home.

You can get a loan after the foreclosure has been DISCHARGED for 2 full years. Time flies quickly so don't let the additional year wait discourage you. Start saving your money for your down payment and keep your credit/debt in line with your income and before you know it, you will be ready to buy your home! Keep my information handy and call me when you are ready! 505-238-1218 :)

Generically speaking, pursuing FHA/VA financing require 2 years from discharge date with re-established credit paid as agreed or no new credit obligations incurred. Less than 2 years, but not less than 12 months from discharge date may be acceptable if the bankruptcy was caused by acceptable extenuating circumstances and borrower has since exhibited a documented ability to manage financial affairs in a responsible manner. *Serious illness or death of a wage earner. Divorce and the inability to sell a property due to a job transfer or relocation to another area DOES NOT qualify as an acceptable extenuating circumstance.

It is very difficult to do, but depending on your circumstances it IS a possibility. There will need to be a very good reason - an extenuating circumstance - and supporting documentation in order to have a shot.

You will not be able to refinance for a minimum of 2 years on Chapter 7 BK from the date of discharge. That is only on FHA and VA guidelines. If you were seeking conventional financing you will need to wait 4 years from discharge.Glenda

Hi MarcieUnfortunately, one year from the final discharge of your bankruptcy will not be sufficient for you to obtain financing on your home. There are some programs that will review your extenuating circumstances after 2 years, with established positive credit. Perhaps there are options to consider... What is the status of the Mortgage and are there any other occupants in the home?You may email me direct to review the circumstances: jbodway@acceptancecapital.com

Maybe. Mostly it will depend on your equity position. You will not be eligible for traditional financing for at least two years from the discharge date. That said, if you really need the cash, and you have sufficient equity, there are several private money lenders that would consider lending to you. If you are looking for traditional financing, you should use the next year to make sure your credit is as good as possible. If you don't know what you need to do to fix your credit, contact a local Mortgage Banker/Broker to get the ball rolling. Most will be willing to set you up on a plan so you are loan ready when you become eligible. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com