Seymour's Blog

Can I Finance a House After I File For Bankruptcy?

Many people reestablish their credit quickly after they have filed for bankruptcy. This is especially true if they have a good work history.

We have a lot of clients that want to finance a home after they wipe out their bills in a bankruptcy. In the present economic climate, people can generally finance a home purchase within about 2 years after they have filed bankruptcy. We have relationships with people in the mortgage industry who have helped our clients finance a new home.

If you pay your bills on time after you have filed for bankruptcy, your credit score should quickly improve.

Furthermore, once you have successfully gone through a bankruptcy, your debts have been forgiven and eliminated. Therefore, doesn’t it stand to reason that you would be a better candidate for obtaining a mortgage than you were before you filed a bankruptcy when you owed all of those bills.

It may seem somewhat counterintuitive, but many people have much better credit after they filed bankruptcy than they did before, because wiping out all of those bills means that you are going to have a much greater ability to pay new bills in the future.

The purpose of bankruptcy law is to give you a fresh financial start so that you can reestablish your credit and have a brighter finance future. Therefore, your dream of home ownership can come true within two years after you have filed for bankruptcy.

Feel free to ask us any questions, and if you need an introduction to some people who might be able to help you finance a home purchase, or we will be happy to help. Thank you.