Getting a Mortgage loan after bankruptcy

You can actually have a life after bankruptcy and normal rate home mortgages within 2 years after filing bankruptcy. It takes three years after a foreclosure. Simply pay your debts on time after you file bankruptcy and use a variety of credit.  HUD, FHA, Kentucky Housing Corporation and other Federal housing agencies have non discrimination guidelines for persons who have filed bankruptcy. This  allows you to have a mortgage after bankruptcy at prime interest rates. These guidelines require lenders to ignore your pre-bankruptcy credit record and bankruptcy filing. The lender only uses your post bankruptcy payment history to decide on your loan. Make an appointment and we will show you how.  Here is our article on how to get a 725 credit score.

You can also qualify for a mortgage one year after filing a Chapter 13 and have a life after bankruptcy under the same rules. Of course you will still have to qualify based on other factors. Mortgages are only granted if you make enough income and haven’t gone deeply into debt for other items.

To recover after filing bankruptcy:

  1. This is our article on how to get a 725 Credit score after bankruptcy.  The keys are to generally pay on credit on time after bankruptcy and to have variety in your credit. We have letter which will help you to remove negative information in our download section after filing bankruptcy. You can do it yourself with the information on the 725 credit score page or use services like Lexington Law to do it for you.
  2. You must wait a sufficient amount of time before applying normally a year for a car and 2 years for a home mortgage, 3 years after a foreclosure.
  3. Pay bills on time religiously after filing.

Our bankruptcy and other manuals explain how to properly file a bankruptcy case in Kentucky.  However, if you have specific questions about Kentucky bankruptcy call us.  We practice bankruptcy and divorce cases statewide in Kentucky and Indiana.

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