John Everett (JNJ Properties)

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Rainmaker
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Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

 John -- it looks like you are in New Jersey, I suggest chatting with John Meussner who is licensed in your state.  

Oct 17, 2017 05:51 AM
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Heed Michael Jacobs advice.

Oct 17, 2017 07:06 AM
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Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Michael Jacobs has given you the answer I woul

Oct 17, 2017 06:53 AM
Rainmaker
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JoAnn Moore
The Mortgage Market of Delaware - Georgetown, DE
Home Loans in Delaware

Chapter 13-  (FHA) 1 year of the pay out period must have elapsed and payments made on time. Borrowers must receive permission from the courts to enter into a mortgage.

Oct 17, 2017 06:34 AM
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Yes, this is definitely a lender question, John. Good luck!

Oct 17, 2017 05:33 AM
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John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

You have to meet FHA requirements, but yes, on the surface, this is doable.  If you need some help and/or guidance feel free to reach out at 949-247-7530. I'm licensed in NJ if that's where the property is, along with several other states.

 

Directly from the HUD sellers guide: 

"A Chapter 13 bankruptcy does not disqualify a Borrower from obtaining an FHA-insured Mortgage, if at the time of case number assignment at least 12 months of the pay-out period under the bankruptcy has elapsed."

 

Oct 17, 2017 10:53 AM
Rainmaker
959,959
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I second a call with John Meussner.  I'm not licensed to provide that kind of info, but he is.

Oct 17, 2017 09:34 AM
Rainmaker
1,274,062
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

John Everett JoAnn Moore has your answer.

Oct 17, 2017 07:03 AM
Rainmaker
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Jennifer Mackay
Keller Williams Success Realty - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Michael Jacobs has a good recommendation

Oct 17, 2017 05:04 PM
Rainmaker
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Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Great question for a lender.

Oct 17, 2017 11:16 AM
Rainmaker
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Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale - Probate Broker

Make CERTAIN the lender you speak with KNOWS FHA.  I strongly recommend that you call Tom Parke, Mason-McDuffie Mortgage. 

(415) 828-5004 Tom can do loans in all 50 states. 

Oct 17, 2017 07:24 AM
Rainmaker
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Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Kudos, JoAnn Moore for providing your answer. If you are not already following her blog, now is the time. 

Oct 17, 2017 07:13 AM
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Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 Reading the answers.

Oct 17, 2017 07:03 AM
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Discuss this with your trusted local mortgage loan officer.

Oct 17, 2017 06:39 AM
Rainmaker
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

This is a meaty question

Oct 17, 2017 06:01 AM
Rainmaker
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Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

I'm sure you'll get the answer here ... there are many mortgage officers here..

Oct 17, 2017 05:36 AM
Rainmaker
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Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

I suggest you speak with a lender.

Oct 17, 2017 05:36 AM
Rainmaker
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Nathan Gesner
American West Realty & Management - Cody, WY
Broker / Property Manager

Michael already provided the best answer. Good luck!

Oct 18, 2017 05:04 AM
Rainmaker
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Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

John Meussner nailed this one!

Oct 18, 2017 04:28 AM
Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I think speaking with a lender with this is your best bet

Oct 17, 2017 06:47 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Good to see you have a lenders opinion already.

Oct 17, 2017 06:12 PM
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I am not a lender and the rules are a moving target but seems the last I asked about a similar situation was the repayment of Chapter 13 had to be 2/3 completed with on time payments and new good credit lines had to be established.

Oct 17, 2017 05:34 PM
Rainmaker
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Sandy Padula and Norm Padula, JD, GRI NMLS#1483386
Realty One Group - Carlsbad, CA
Presence, Persistence & Perseverance

Looks like you got a straight answer from John Meussner . Good luck!

Oct 17, 2017 04:02 PM
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Talk to a lender and an attorney.

Oct 17, 2017 03:15 PM
Rainer
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Caroline Gerardo
Eagle Home Mortgage, LENNAR HOMES Home Loans - Newport Beach, CA
C. G. Barbeau the Loan Lady

FHA you must be 1 year lapsed after the payout.  I have 3 lenders who will offer a loan. Rate is not low

Oct 17, 2017 12:22 PM
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No idea.

Oct 17, 2017 08:35 AM
Rainmaker
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Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

It appears the sun may be rising for you based on JoAnn Moore 's answer! Good luck!

Oct 17, 2017 08:25 AM
Rainmaker
3,894,453
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I don't know.

Oct 17, 2017 08:01 AM
Rainmaker
809,271
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

You've met and successfully leaped the initial hurdles. It's time to speak with a trusted and knowledgeable lender. I don't believe an FHA mortgage will be an issue. 

Oct 17, 2017 07:46 AM