Any Chapter 13 experts out there?

[MOMof3]

We will be finished with our 13 in February 2012 & I would love to sell our house and purchase a new one as we've outgrown our current digs. Because of my kids' ages, summer of 2012 would be a really good summer to make a move. What have been your experiences with obtaining an FHA or other mortgage after your 13 (we didn't foreclose, but arrears was included in bankruptcy). How much time did you let lapse before applying? I'm fairly sure our scores are mid 600's + and we make good wages. How much of a down payment is currently being required? We have equity in our home, but not sure how much (certainly not as much as we used to).

Thanks!!

[sofarsogood2]

I believe it's a one year minimum if you stayed current on all bills during the BK- but in the current lending environment, that time frame may have been extended. Call around to some FHA specialists to be certain. Be sure to call several, as some brokers are more knowledgeable than others.

Good Luck and congrats on your pending discharge!

PS: I'm not an expert at all, just have read that info before!