Ok, I will admit I've done no research onthis as I am pretty ignorant when it comes to real estate. When my Chapter 13 is paid 3 years from now when would I be eligible to apply for a mortgage and what percent do you think they might require for a down payment? I guess I'm just looking for a nitty gritty answer should I even consider it? I'd like to buy a townhouse. The only time I owned a house was with my ex and we sold that when we got divorced. I would probably be making about 40k/year so I'm not sure that would even qualify me for anything decent or not. Just want to know if I should even try to save for a downpayment or spend the time to research my options more.
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Filed 11/17/11 Chapter 13, 341 meeting 12/21/11. Plan confirmed 1/19/12 - DISCHARGED 12/16/15
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I'm sorry nobody else has responded to this question, and that I am of the naive/ignorant kind, but I will tell you what I know.
I believe with a chapter 13 you can apply for and possibly get a mortgage at any time WITH PERMISSION from the court- which means, even before those three years are up. As far as percentage rate goes, I dunno. Or down payment size for that matter. I would imagine the rates won't be desirable in your situation.
Just keep reading what's over here and look up rules for your state. Sorry I couldn't help more
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