after filing chapter 7 when can i buy a house

(For more details, see Completing the Statement of Intention for Individuals Filing for Chapter 7.) Reasons to Surrender Your House in Chapter 7. Below, we discuss some of the most common reasons you may wish to surrender your house in chapter 7 bankruptcy. You can’t afford the mortgage payment.

Keeping Your Home. The surest way to keep your mortgaged home in Chapter 7 bankruptcy is to reaffirm its mortgage loan. When you reaffirm your home’s mortgage in Chapter 7 bankruptcy, you’re excluding it from your case altogether. One downside to this is that if you later fall into foreclosure, your credit could be damaged yet again.

Can I buy a house cash after filing chapter 7 b – Q&A – Avvo – Can I buy a house cash after filing chapter 7 bankruptcy 2 years ago. I filed bankruptcy 2 years ago and now I am ready to buy a house cash but I found out that my house that was filed in the chapter 7 bankruptcy is still in my name.

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With the chapter 13 filing, the consumer makes an effort to pay back some or all of the debt obligations. They do this through a court approved payment plan. Based on these differences, you can probably guess which type of filing would hurt you the most. In general, buying a home after a chapter 13 bankruptcy is easier than with a Chapter 7 filing.

In a tough market, buying a house can be difficult. you may have to pay the AMT if, after adding back in those adjustments, your income is more than the AMT exemption amount for your filing status..

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A couple years later, he declared personal bankruptcy and lost all of his properties and personal savings, except for his house and car. his 4-year-old son. After a few months, in December 2012, he.

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Unlike Chapter 13 bankruptcy, Chapter 7 bankruptcy poses a substantial risk that you will lose your home because Chapter 7 does not eliminate the mortgage lender’s lien on your house. Bankruptcy can.

The bankruptcy myth that a debtor will never qualify to buy a house after. two years or so after filing bankruptcy before he or she can qualify for a. If you filed a Chapter 7 bankruptcy, you must wait four years after the date of.