chapter 13 dismissal
2006-12-06 05:59:26 · 7 answers · asked by paula r 1 in Business & Finance ➔ Credit
You don't have to wait at all if it was dismissed. Just make sure your score is high enough to qualify you for the loan you need. And it helps if you have made your housing payments on time and the BK payments on time before it was dismissed.
2006-12-06 06:03:11 · answer #1 · answered by Jumper 2 · 0⤊ 0⤋
Dismissed or discharged? It depends on where you go. Some lenders have 1 day after bankruptcy dicharge loans to purchase new homes. Some require up to 2 years. If it's only dismissed, they will want to know the reason because it may be able to be repoened in some instnances..
2006-12-06 14:02:30 · answer #2 · answered by stefani_m2003 2 · 0⤊ 0⤋
There are lenders that provide mortgage financing 1 day out of BK but the rates are high. Each year that passes opens up more lenders that will accept you.
Here is some additional info. Hope this helps.
2006-12-06 14:08:40 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Generally 4 years from the date of discharge.
That's for the best lenders and best rates.
Some will do 2 years, and some will do it straight away, but you'll pay for it. Not to mention your credit score is probably shot.
It's best to wait, and rebuild your credit and pay the least interest.
Learn more about credit, mortgage, and personal finance at:
http://www.thetruthaboutmortgage.com
2006-12-06 14:15:22 · answer #4 · answered by Anonymous · 0⤊ 0⤋
There is no required waiting period, the difficulty is finding a lender who will work with you. Each lender who works with you will require a different amount of time between the bankruptcy and your application. Use the internet to find mortgage companies who work with bankruptcies. However, read their fine prints and beware of additional interest and fees.
2006-12-06 14:02:15 · answer #5 · answered by Melli 6 · 0⤊ 0⤋
Was it dimissed because the plan has been paid out or for other reasons? If it is paid out, try as soon as you like. However, don't think it will be easy to secure a loan with a prime interest rate. Also, have as much money as you can down. Do you homework and you should be ok.
2006-12-06 14:02:33 · answer #6 · answered by beeotch 3 · 1⤊ 0⤋
Depending on the lender you can do it one day out of bankruptcy. The question is have you re-established your credit? Do you have any open trade-lines @ this time? If so that will help as long as you have been making your payments on-time.
2006-12-06 14:01:39 · answer #7 · answered by ? 4 · 1⤊ 0⤋