Obtaining a FHA loan?

Question

Can you get a fha loan after being discharge from chap.13 bankruptcy?? Thanks for any help

Answer 1

FHA will consider appoving a borrower who is still paying on a Chapter 13 Bankruptcy if those payments have been satisfactorily made and verified for a period of one year. The court trustee's written approval will also be needed in order to proceed with the loan. The borrower will have to give a full explanation of the bankruptcy with the loan application and must also have re-established good credit, qualify financially and have good job stability.

Hope this helps!