chapter 7 bankruptcy WAITING PERIODS As mentioned above, all borrowers must wait least two years after the discharge date of a Chapter 7 Bankruptcy. The discharge date should not be confused with the date bankruptcy was filed. As with Chapter 13 bankruptcy, FHA regulations demand a full explanation to be submitted with the fha home loan.
Can You Reaffirm A Mortgage After Bankruptcy? – If you discharge your personal liability to the mortgage company in Chapter 7 bankruptcy, they may not let you refinance with them in the future. But you do realize that there are lots of other banks out there, right? After you discharge your mortgage obligations, the lender isn’t allowed to report your payments to the credit reporting agencies.
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Settling a 2nd mortgage after chapter 7 bankruptcy. – · The second started foreclosure which forced me to file Chapter 7 bankruptcy. The bankruptcy was discharged November 2014 with neither mortgage reaffirmed. After making No payments on the 2nd for 72 months and several conversations about settling, I came to the realization they would never settle.
Can a Loan Be Modified After a Chapter 7 Bankruptcy Discharge. – We are often asked the question: can a loan be modified after a Chapter 7 Bankruptcy Discharge? While we are not Bankruptcy attorneys, after much research and inquiry wih BK attorneys, the simple answer appears to be "Yes". if both the lender and borrower agree to do so.
Unlike Chapter 13 bankruptcy, Chapter 7 bankruptcy poses a substantial risk that you will lose your home because Chapter 7 does not eliminate the mortgage lender’s lien on your house.
The Bankruptcy Discharge And Beyond: What To Do After Your. – Congratulations! You have received your bankruptcy discharge at the end of your Chapter 7 or Chapter 13 case. You are anxious to get a fresh start, but what should you do next? . . . Read More: The Bankruptcy Discharge And Beyond: What To Do After Your Bankruptcy
American Home Lending: Bankruptcy No Longer Means No Mortgage! – Instead of waiting 2 or 4 years after being discharged from bankruptcy, some mortgage professionals are willing to give a home loan much sooner. Those who have declared Chapter 7 bankruptcy liquidation may be eligible for a loan one day after discharge, and those who have declared Chapter 13 may be eligible for a loan even while still reorganizing.
What Happens if I Default on My Mortgage after a. – After a Chapter 7 Discharge. A Chapter 7 discharge order from the bankruptcy court discharged you from all debts that arose before the commencement of your case. If you had a pre-bankruptcy mortgage, that mortgage was included in your discharge order, unless it was excepted.