Would being a cosigner on a bankruptcy loan affect me being approved for a FHA loan?

The answer is it depends. Was the loan that went to BK a mortgage loan, and specifically was it a FHA loan? Have you checked all 3 of the credit bureaus and how does this show up on your credit report? (it may show differently on different bureaus). How long ago was the BK discharged? Did you have to put any money as co-signor? What were the circumstances leading to the BK (was there a medical emergency for example). Was the debtor who filed BK a spouse or just a friend? What type of BK was filed (chapter 7 or 13?) If you would like to send me more details I can try and get an answer for you.

Not enough info to properly answer your question... but in general, if you cosign for someone and they default, then it's up to you to step in and maintain the payments.. This is what you agreed to do when you cosigned.. having the debt discharged through BK only relieves the person filing BK from any further obligation.. you, the cosigner, are still obligated and the creditor can come after you for any deficiency.. if the borrower reaffirms the debt, and continues to pay, then so long as the debt is current, no collection activity should be initiated.. if the debt is still outstanding, and you apply for a new loan, then the payment associated with that cosigned debt will go against you and your debt to income ratios for qualifying purposes.. If you can prove the borrower has been making the payments for the past 12 months (canceled checks, bank statements, etc.), then FHA will remove that debt from your ratios.. .. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

As others have said, we need more information about the details - because it depends on exactly what you co-signed on and how it reported on your credit, and what type of bankrupcy it was

We would need to see the bankruptcy documentation, but if you filed bankruptcy then the standard answer is 2 years from discharge to be able to qualify for a home using FHA. Need additional information to be able to discuss your options. Thank you. Kay Cleland, 720-670-0124

First , was it a 7 ???? How long did you sign on the note?? linda