It's True ! You Can Get A Mortgage After Bk !

[rst6pac]

how do you come up with that big of a down payment that soon after a bk? don't most people end up with very little assests after the fact?

[CoachK]

Equity

I have that much equity in my house. I sold my house and I am using the cash as a down payment.

[clb123]

Selling house?

I have that much equity in my house. I sold my house and I am using the cash as a down payment.

Did you sell your house after BK discharge? I was advised to wait a year before selling.

[fsugirl]

CLB-We sold our home 2 weeks after BK was d/c and had $55,000 in equity that we got to keep.

[clb123]

Wow!!

CLB-We sold our home 2 weeks after BK was d/c and had $55,000 in equity that we got to keep.

I would love to be able to do that. I was under the impression that that would be considered a windfall and the trustee would take it. What state are you in?

[fsugirl]

I am in Florida