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Here are a few ways you can qualify for a car loan after bankruptcy: Work with a Subprime Lender Subprime lenders work with borrowers who have low credit or have filed for bankruptcy.
A reaffirmation agreement allows you to modify the terms of your loan to make repayment easier during and after Chapter 7 bankruptcy. A car loan will allow you to keep your vehicle as long as you ...
While you can discard monthly mortgage statements, it's important to keep all mortgage documents, such as the promissory note, deed of trust and proof of title insurance, for the life of the loan.
The disadvantage of filing for personal bankruptcy is that, under the Fair Credit Reporting Act, a record of this stays on the individual's credit report for up to 7 years (up to 10 years for Chapter 7); [5] still, it is possible to obtain new debt or credit (cards, auto, or consumer loans) after only 12–24 months, and a new FHA mortgage loan just 25 months after discharge, and Fannie Mae ...
It depends on the type of mortgage you want to get — each home loan program has a different waiting period — but also exactly how you originally declared bankruptcy. There are two main types ...
Conventional loans typically require borrowers to wait four years after a Chapter 7 discharge or dismissal to apply for a new mortgage. If you’ve filed for Chapter 13, you can apply two years ...
Bankruptcy waiting period. Foreclosure waiting period. Conventional loan. 4 years for Chapter 7 or Chapter 11 (2 years with exceptions); 2 years from discharge or 4 years from dismissal of Chapter 13
VA loans are available to active military, veterans, and eligible surviving spouses. Like USDA loans, you don’t need to put anything down; you only need a 580 credit score to apply, as long as ...