bankruptcy discharge: Bankruptcy and buying a home
- 04/20/11 02:05 PM
Bankruptcy has certainly been the last choice for many Americans. The question has been asked of me twice in the last week, so I thought perhaps it would be a good topic for my next blog.
For an individual, there are two types of bankruptcy, Chapter 7 and Chapter 13. In a Chapter 7, all of your debt is wiped out when the bankruptcy is discharged. In a Chapter 13, you will be making payment to the bankruptcy court for the trustee to repay your creditors.
In order to qualify for an FHA mortgage, you must wait 2 years from the … (4 comments)
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Bankruptcy has certainly been the last choice for many Americans. The question has been asked of me twice in the last week, so I thought perhaps it would be a good topic for my next blog.
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