Purchasing a home

[smiley09]

Buying a condo



I would like to purchase a condo. My chapter 13 will be completed in August. I owe Approx $1000.00 on my plan. I know I have to get permission from the court. Does anyone know what my chances would be to purchase this before my plan is discharged. I paid my payment faithfully every month. Also while you are in your plan do you have a FICO score? Does anyone know how this works? Thanks

Does anyone know the name of any lender who will work with you on getting a loan?
I live in Ohio

[HHM]

Pretty slim.

How many months do you actually have to go

Yes, you do have a FICO and you can rebuild credit while in an active 13. But if you only have $1,000 to go, probably easier to simply finish the plan and avoid the hassle of getting trustee approval and the hurdles of trying to get a mortgage approved while in active BK.

[smiley09]

How do you rebuild credit while in a chapter 13? I have 2 months to go and then I'm done. When I'm done is there anyone out there that will give you a loan?

[catleg]

There are some kinds of credit cards you can get after a while in a chapter 13.
Secured visa/mc, offered by various banks.
If you bank with Wells Fargo you can add a secured visa for $25 annual fee.
Orchard bank, unsecured but with a large annual fee.
Kohls.
Bill me later via ebay/paypal.
Just to get an open tradeline on your credit report.
The trouble with ch13 is that you come out the other side with "no recent credit history"

[Motivedmom5]

I filed a chapter 13 in August of last year. I applied for an Orchard credit card and was approved for $300. I use it to pay certain bills I know I have to pay monthly and every month I pay $300 on my credit card so that I don't have a balance. My score has actually jumped 100+ points after I filed. It could be because everything that was listed on my credit report was removed except for about two or three things that has included in bankruptcy. I want to get a house and was told I have to wait until it's been at least a year. The only problem I have is I don't have three tradelines. I'm thinking about getting a secured credit card so that I'll at least have two tradelines and then maybe they'll consider my cell phone payments or car insurance payments as the third.

[Carter]

I am currently working with a loan officer to buy a home. I have 4 months left on my chapter 13 my loan officer is timing the closing for after completion/discharge. I have Orchard (First Premier is another cc that is chapt 13 friendly). My loan officer told me to keep the limit below 50% of the limit and your score will rise quickly.