Real Estate Pro Articles
   
   

Can I Buy a Home after Bankruptcy?



[Valid RSS feed]  Category Rss Feed - http://www.realestateproarticles.com/rss.php?rss=263
By : Mary Deoquino    99 or more times read
It is truly a very stressful time when a person files for bankruptcy. Having to discharge your debts and starting new is not something fun, and on top of it, most people wonder whether they would ever be able to buy a home after filing bankruptcy. Well, the simple answer is that you can definitely acquire a home even if you are bankrupt. Even better news is that mortgage companies are by and large offering home loans for people who have bankruptcy marked on their credit reports. It is even possible for you to acquire a loan from lenders in one day after filing bankruptcy.

Buy a Home – Even If You Are Bankrupt

Yes, it is possible for an individual to buy a home even after bankruptcy. This is because there are numerous reasons why people file for bankruptcy. These include losing a job, sudden medical bills, debt etc. Special loan packages and terms have been set by the mortgage lending industry for people who have filed for bankruptcy at some point in their lives. Lenders generally do not have much to lose when they approve a home after bankruptcy. Considering the fact that your home actually serves as a security for the acquisition of your loan, lenders feel confident in approving a home loan for you, that too as soon as you have discharged your bankruptcy.

Online Lenders and Mortgage Companies

The acquisition of a home and filing bankruptcy are somehow not mutually exclusive anymore. It is because of online and conventional lenders that you can acquire good interest rates and affordable payment even if you have filed for bankruptcy. Those who have filed Chapter 11 or Chapter 7 bankruptcy can easily get in touch with a lender who is dedicated to approve mortgages after bankruptcy and you will get your answer. The best part is that interest rates these days are lower than they have ever been.

Even if you have filed bankruptcy, it is possible for you to get yourself a new home and receive really good interest rates as well. There is strong competition going on between online lenders and mortgage companies these days, so make sure that you utilize this chance for your own good. Try not to let a past bankruptcy stop you from acquiring the home you always dreamed of.

If you have previously filed for bankruptcy for any reason whatsoever and still wish to buy a new home for yourself, rest-assured that there are several loan programs available for you, most of which will be tailor-made to fulfill your needs. Even though there are lenders out there who would want some time to pass before approving a home loan for you after bankruptcy, but there are also those who would approve a home loan in just one day after your bankruptcy has been discharged. So, even if you have filed for bankruptcy, you no longer have to worry whether you will be able to acquire a new home or not.
If you want more information and great deals on beautiful homes, then definitely visit Texas Community Guide for Real Estate and Texas Community Blog.

Related Articles



Actions
Print This Article
Add To Favorites



Sponsors

 

 

© All rights reserved to Real Estate Pro Articles