I've just filed for Chapter 7 bankruptcy.?

I would like to be able to buy a house in the future. My attorney told me that he%26#039;s had several clients telling him they%26#039;d get credit card offers after a couple months of disposition AND that they were able to purchase a home after only one year. Has anyone ever heard of this before or even experienced this? i thought you%26#039;d have to wait like 10 years before you could buy a house. If this is true, how is it possible to purchase a home after only like a year? Thanks.

I%26#039;ve just filed for Chapter 7 bankruptcy.?apply for a loan

Yes you can at higher rates

I%26#039;ve just filed for Chapter 7 bankruptcy.? loan

it is true once the bankruptcy has been discharged you will receive offers and after 1-2 years can buy a house but be prepared to pay a higher interest rate than average|||Yes it is possible and you can do it many different ways to reestablish yourself|||There is nothing to prohibit lenders from offering you credit after a bankruptcy has been discharged (completed). They know that you cannot take that avenue again for 7 years. They can also use it to charge you much higher rates if you want it. Since they see you as now a higher risk. they get their money in fees and higher interest while you%26#039;re paying. If you default again, they%26#039;ve still made money off of you.

Buying a house after bankruptcy is possible because:

It%26#039;s a long term debt and houses don%26#039;t go anywhere.

A 20% downpayment removes a lot of the risk because you%26#039;ve already committed a big chunk of your own money, as well as the house being worth more than your debt.

So if you do default, the house is collateral with good value.

And you%26#039;ve paid more of the loan interest during the earlier part of the loan.

Homes are a good investment for lenders. The current foreclosure crisis is that too many of them are happening all at once. Drinking water is good for you, but trying to dump 25 gallons down your throat at one time is not a healthy thing to do.

So you can get credit after bankruptcy. It%26#039;s just more expensive and THAT%26#039;S what doesn%26#039;t change for several years.|||You can%26#039;t file bankruptcy again for a certain period of time. I would suggest you read the article %26quot;New Bankruptcy Law 鈥?Where鈥檚 The Consumer Protection?%26quot; you can view it at:

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