Can anyone have a FHA mortgage or even get in Chapter 13?

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Hello, we are 2 years in our Chapter 13 and my husband and I found a house we fell in love with it, and we’d have! However, we do not know whether or not we can get approved for a loan. Also, does anyone know of a specific company, I could help in the us? Currently, the only debt we have is chapter 13, and we need a little more than 10,000 bankruptcy. Do we have a chance? With someone who is really difficult for us, my husband and I paid, because the economy was just after we had a new baby (she was only three weeks) while my husband and 250 others were laid off. Before our credit was perfect and I mean perfect. Although we lost everything and I know my husband feels like a bad provider, because we had the record, but we’ve been screwed by bill collectors, not to mention that we should abandon our land we will pay 1500.00 per month were interest and the bank has refused to help us get a mortgage, so we did, our country, they forgave the loan and kept the country. Do we have any options? We really want to make a nice home for our little girl Thanks guys, anyone can help us, we are very grateful! Currently, we own our own home, and it’s worth, we paid our two vehicles and we have no bills. When it filed for bankruptcy, because a bank. We had a $ 1500.00 by the monthly mortgage interest was so PYMT and already paid 80 000 dollars in interest. When my husband came out in 2006, at a time, we tried to get the bank to give us a mortgage on the property reg, since we already paid so dearly, and she said no. We tried for almost 2 years, continue to pay the 1500, we did nothing. The baby was 3 weeks when my husband was away and I was wondering when our child was 3 months old, I am seriously ill. Therefore we have in the Chapter 13 non-refundable because we live beyond our means our. We collected a number of things and has everything you need except the loan. We owe it to 10thousand bkrpcy. Now, we have regularly paid for an extended period. To be honest, I think we have a cooperation mrtgage who wanted to support. we had 170 e. and it was worth 1 km

  1. Reply
    May 4, 2011 at 12:33 am

    You will need to get approval from the trustee first and show that you have made payments on your bankruptcy and all have been on time. Without it no bank will touch you. Credit score will obviously come into play having at least 600 should work , but obviously higher is better. Then comes the issue of the mortgage you said was forgiven, what does that look like? If there is a ding on your credit over that then you could have an issue. Lenders have national and proprietary guidelines to adhere to so you may need to talk to several lenders as they all may be a little different, some more able and other less able to lend.

  2. Reply
    David M
    May 4, 2011 at 12:33 am

    Getting a significant loan while still in bankruptcy is down near impossible. Maybe with a huge down payment. But then if you had that, you wouldn’t be in bankruptcy. Best to take care of your bankruptcy, live well within your means and save up some serious money.

  3. Reply
    Doctor J
    May 4, 2011 at 1:21 am

    David’s answer was right on the mark. I gave it a thumbs up.

    Get real Brandi. You are in BANKRUPTCY and you want to take a financial action that would start you moving towards another bankruptcy? You really need to LEARN from your mistakes.

    Best wishes and good luck with renting while you: 1) save for a 20% down payment, 2) save an 8 month emergency fund, and 3) get your credit rating about 740, before you buy your next home.

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