Super sale on Book

Just a reminder the electronic version of the book is on sale for 99 cents at Amazon currently.  And also keep in mind that physical book can be bought for under 10 bucks.






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Post Bankruptcy Mortgages

One issue that many people worry about when considering filing for Bankruptcy is their future ability to purchase a house.  This a legitimate although perhaps premature concern in general we believe that Bankruptcy is a last resort so the future consequences to ones ability to borrow are not particularly relevant.  Arguably they are only relevant if a person can afford not to file in order to avoid them which of course means the person probably shouldn't be filing in the first place. I digress...

The good news is that in many cases a person can get a new mortgage as quickly as 2 years after filing a chapter 7 bankruptcy.  This period applies to FHA loans when the borrower didnt experience a foreclosure. If there has been a foreclosure than the period is increased to 3 years following the foreclosure date.

The periods for conventional loans are longer and start at a 4 year period.  I know of at least a few banks that make a borrower wait as long as 7 years.

At any rate if you file it doesn't have to be the end of your financial life it should be considered a new beginning for you.  You will have to rebuild but you can do it.  For more information on this topic be sure to check out the book.  The kindle edition is only 99 cents and you can buy a printed edition for less than 10 bucks!

                                                             






Keywords: Should I file bankruptcy mortgage after bankruptcy getting a loan after bankruptcy how to file bankruptcy hiring a bankruptcy attorney chapter 7 chapter 13 differences between bankruptcies can i file bankruptcy how much debt for bankruptcy what does bankruptcy cost