fha loan and bankruptcy discharge

Click to See the Latest Mortgage Rates chapter 7 bankruptcy Rules. If you filed for Chapter 7 bankruptcy, you must wait 2 years for an FHA loan. This 2 year mark starts on the date your bankruptcy is discharged. This is different from the date you filed. It is the date your case goes to court and the judge approves the discharge of your debts.

Foreclosure of a discharged mortgage loan and credit reporting.. 75 comments to The Bankruptcy Discharge And Beyond: What To Do After Your Bankruptcy. Teri.. Although your credit report will state that the loan was discharged in bankruptcy and show a balance of $0, you do not own the home.

Can I Get an FHA Loan After Bankruptcy or Foreclosure? | Ask a Lender According to official fha loan guidelines, you may be eligible for an FHA loan just 12 months after the discharge of a Chapter 7 bankruptcy if you can demonstrate that the bankruptcy was caused by circumstances beyond your control.

investment home mortgage rates heloc pros and cons A home equity line of credit does have some disadvantages. For one, the interest rate is variable so monthly payments can be unpredictable, especially when rates are rising as they now are.