how long after a foreclosure before you can buy an home?

Submitted by cherryfavor on Wed, 08/12/2009 - 21:05
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Credit repair

My husband and I lost our home in 2007 and had to file chapter 13. We have been paying the chapter 13 on time how soon can we buy another?

carol

Hi cherryfavor

You can seek an FHA insured mortgage after 1 year of filing chapter 13 provided your payment history in this period has been satisfactory and you have not assumed new debt obligations. You will probably need permission from the court to enter a mortgage transaction.

Thu, 08/13/2009 - 12:01 Permalink