we filed bankruptcy 12 mos ago. Our current home is too small for our family's needs and we owe more than its current value. Are there any options for financing for us?
We need to buy a new home that better meets our family's needs (space). We currently own a home that we owe more on than its value. Can we be financed by anyone right now? by cgtbishop from Durand, Michigan. Sep 16th 2010
Rudi Hofmann (CaPortfolioLoans)
#281 ranked lender in California - 380 contributions
Have you spoken to your BK Attorney about this recently? You may have some BK options. .... Happy funding, Rudi
Brian Esquivel (NewAZMortgage)
#23 ranked lender in Arizona - 67 contributions
Current FHA guidelines allow a borrower the ability to refinance or buy a home through FHA if 24 months have passed since the Chapter 7 discharge date. Take a look at the exact discharge day and year and you can submit an application the first day after the 2 year anniversary.
It has only been 1 yr, so we have another whole year to wait, I guess. What would our BK attorney have info about? He told us we could just file the house, but we thougth that would hurt us even worse-because we wouldn't be able to find anywhere else to move to without financing...
Rudi Hofmann (CaPortfolioLoans)
#281 ranked lender in California - 380 contributions
I don't know if your attorney can help. It usually never hurts to ask. Although, you said you filed BK. You didn't say it was finalized. If you are in a Chapter 13 you may have some options. If it is a 13, you'll have a new issue. Buying a house. That will need a Court Approval. .... Happy funding, Rudi
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