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Construction Loan - AZ

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    #1

    Construction Loan - AZ

    Hello,

    Has anybody been able to get a construction loan after a bkt, especially recently?

    We managed to buy a piece of land and improve it enough to put a used mobile home on it before we filed. We will be able to keep this land and home, but we hope to build in about 4 years. Do you think we will be able to get the financing?

    BTW - We are including our other house that we walked away from in the CH 7 BKT.

    Thanks!
    Filed CH 7 - 5/21/10, 341 Meeting - 7/9/10, Report of no distribution - 7/12/10
    Last day to object - 9/7/10
    Discharged - 9/14/10
    Closed - 9/21/10
    Tags: None
    #2
    Residential construction loans are currently one of the hardest loans to qualify for. Some banks in the boom were taken down solely by bad construction deals. That being said there are some banks lending. Just use this time to save a sizable down payment.

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      #3
      BUMP - Has anyone built a house after a Ch 7 and a foreclosure? How long out after the foreclosure did you have to wait to get the construction loan? Thanks
      Filed CH 7 - 5/21/10, 341 Meeting - 7/9/10, Report of no distribution - 7/12/10
      Last day to object - 9/7/10
      Discharged - 9/14/10
      Closed - 9/21/10

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