Buying a house in bankruptcy

[bigdre]

Been in Chapter 13 for 2 years now wanted to know can i buy a house while in bankruptcy? I have talked to my attorney in Trust and the Court to get permission in was giving the okay but need help on what steps to take now..

[newbie2]

Been in Chapter 13 for 2 years now wanted to know can i buy a house while in bankruptcy? I have talked to my attorney in Trust and the Court to get permission in was giving the okay but need help on what steps to take now..

The next step would be to talk with your bank, credit union or mortgage broker to find out if you can indeed obtain a mortgage while in an active Chapter 13.

[oldhack]

FHA permits loan guarantees after just a single, successful year in a Chapter 13 repayment plan:

http://www.fha.com/credit_issues.cfm

However, most lenders will have stricter guidelines, and you'll have to meet the strictest guideline presented. There are SOME lenders, however, who will finance a mortgage if you otherwise qualify.
Thus, it's extremely important to find a loan officer of mortgage broker experienced in shepherding BK filers through the mortgage process. Without such experience, many will simply tell you it isn't possible. It isn't EASY, but it IS possible!

[bigdre]

Thanks for the info helped a lot do you know of any lenders out their that will help.And i have another problem like i said before i have been under bk for 2 years now in a few weeks ago i get a tap at my front door it was the repo man taking my truck. So i talked to my attorney in they give the truck back.But i have a big dent in my truck now what can i do about this now?

[Lissy]

So you're in an active 13 and haven't been making the payments on your truck? Sorry to tell you, but your credit will be dinged yet again for defaulting on your auto loan. I wish you luck obtaining a mortgage, but this will make it that much harder for you.

[bigdre]

Never said i was behind in any payments on my truck. Never missed any payments in over 2 years

[Lissy]

Then why are they repossessing the truck? I must have missed something.

[bigdre]

That was my point as well. The bank said they had no record of the bankruptcy So gave them the filing number then they release my truck..I was asking what can i do to get my truck fix after they damage it