How long after discharge to buy a house?

[dmc-2008]

This has been asked and answered but I wasn't paying attention in class that day!

How long to wait to buy a house after discharge, I want to sell my condo and buy in another state before I retire, so I can get a better mortgage. Will have at least 60k to put down on a modest home approx 200k. I hope!

Thank you!!!!

[LadyInTheRed]

It is possible to get a loan during Chap 13 and immediately after. You just have to find the right lender. Interest rates may be better if you wait until the BK drops of your credit reports which should happen 7 years after your filing date.

[dmc-2008]

Thank you Lady! I might have to wait till 2020! But I am getting good at the waiting game! I don't suppose there is any way/chance I will get lucky and get out of my bk early because of my lien strip! 😔😔

[drew999999]

We did a no cash-out refinance about 1 year after discharge. It was brutal as we were told that due to the BK still showing on our reports, the loan had to be manually underwritten. This caused TONS of questions about why we filed, late payments, expenses, etc. After getting through all of it, we were finally approved. It's possible to accomplish, but expect the process to be alot more involved. Good luck!