Buy a house after bankruptcy?

[suzannews]

My brother and sister in law filed and were discharged about 18 months ago. They are now looking to buy a house and start fresh. Anyone have any info on where to start or if its even possible.

 

[tstobb]

It is possible but 18 months may not be long enough. Start with mortgagage brokers rather than a bank - they will have the flexibility to search out the best loan currently available. It is actually easier to get a loan if you have bad credit than if you have no credit!

 

[Bildmouse]

I know someone who did buy a house after filing but they had to wait two years. They found the house they wanted and all the paper work was completed but they could not close until the two year date.

 

[elgerber]

It is possible, but as was said above, all mortgage programs we have, require it be discharged for 2 years prior to approval.

Erika