MGR 97 – Getting Back On Your Feet
March 20, 2015
Summer’s almost here, which means people nationwide are thinking about buying a house. Our questions today are:
- Can I get a mortgage after filing for bankruptcy?
- How quickly can I start to rebuild my credit once Chapter 13 bankruptcy has been filed?
You can get a mortgage after bankruptcy, but the timing depends on which type of case you’ve filed and what the status is.
We talk about FHA guidelines for getting a mortgage after your bankruptcy case has been filed, as well as why you may need to get an additional approval before you take out the loan. All of that once you make a decision as to whether it’s a good financial idea to take out a new mortgage.
You’ve also got to get to the point where your credit is good enough because your credit is largely frozen while your bankruptcy case is going on. How fast can you get back on your feet, anyway?