Chp 7 asset case 2y from discharge date or close date

[Jcg23]

We filled chp 7 in Jan '13, discharge granted May '13, but the trustee didn't close the asset case until May '14. Apparently it took a full year for them to distribute the cash we gave them. (They took our tax return and 25% of one month wages, no assets other then that cash)

We're looking to purchase a house under FHA soon and have a downpayment and rebuilt credit. We want to make sure in an asset case it's still 2 years from the discharge date and not 2 years from case closure. Can anyone confirm or deny?

[LadyInTheRed]

From HUD:

"A Chapter 7 bankruptcy (liquidation) does not disqualify a borrower from obtaining an FHA mortgage if at least two years have elapsed since the date of the discharge of the bankruptcy. "

http://portalapps.hud.gov/FHAFAQ/controllerServlet?method=showPopup&faqId=1-6KT-188v

Lenders may have more stringent requirements. So, you may need to shop around. I suggest using a mortgage broker who specializes in FHA loans.