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Can I buy a Home in Memphis Tennessee after a Bankruptcy
You can buy a home after a Bankruptcy in Memphis Tennessee
In contrast to public opinion, you do not always need to wait a very long time following a bankruptcy to qualify for a new home loan.  While most loan programs do require a waiting period of  3-5 years after a bankruptcy to purchase a new home, there is one program that will still allow you purchase a new home one day out of bankruptcy.  In fact, it even allows some to purchase a home while still in bankruptcy.
The FHA Guidelines state in the 4155.1:
"A Chapter 13 bankruptcy does not disqualify a borrower from obtaining an FHA-insured mortgage provided the lender documents that one year of the payout period under the bankruptcy has elapsed and the borrower’s payment performance has been satisfactory (i.e., all required payments made on time). In addition, the borrower must receive permission from the court to enter into the mortgage transaction.
 FHA loan loan guidelines require Chapter 13 bankruptcy payments have been made in a timely manner and that all other debts have been paid on time since the date of the bankruptcy. (The minimum credit score requirements still apply,therefore  it is critical to know how your creditors ... more

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