QUESTION
if my foreclosure was a result of banruptsy, will I still need to wait 3 years after the foreclosure even if the bankruptsy was discharged 3 years ago
Asked on Feb 15th, 2013 on Foreclosures - Wisconsin
More details to this question:
My Chp. 7 bankruptsy was discharged in October 2009, now I am being told that I will not qualify for a new mortgage until 3 years after the foreclosure was finalized last July 2012. Is this correct?
1 ANSWER
Bankruptcy Attorney serving Collegeville, PA
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Nahrgang & Associates, P.C.
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All lenders have different guidelines for lending, although they are generally bound by Fannie Mae. I believe the current guidelines provide that your discharge must have been at least 2 years ago.
I suggest inquiring with different lenders, especially those who state the handle clients with imperfect credit.
Answered on Feb 15th, 2013 at 5:36 PM