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    Myrtle1895's Avatar
    Myrtle1895 Posts: 1, Reputation: 1
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    #1

    Jul 30, 2008, 10:44 AM
    Chapter 7 and buying a home
    To my knowledge, once a person has filed chapter 7 they had to wait at least two years after the discharge before buying a home. I've just heard that may have changed to four years. Can you tell me which it is?

    Thanks
    progunr's Avatar
    progunr Posts: 1,971, Reputation: 288
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    #2

    Jul 30, 2008, 10:51 AM
    I know of no time limit on the purchase following a BK7?

    That doesn't mean that there is no such thing.

    If the BK has been discharged, and a lender is willing to extend the credit for a mortgage, I think that is all that would be required.

    Keep an eye here just in case someone else does know about this law?
    George_1950's Avatar
    George_1950 Posts: 3,099, Reputation: 236
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    #3

    Jul 30, 2008, 11:43 AM
    Quote Originally Posted by Myrtle1895
    To my knowledge, once a person has filed chapter 7 they had to wait at least two years after the discharge before buying a home. I've just heard that may have changed to four years. Can you tell me which it is?

    Thanks
    Never heard of this; just a fable.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #4

    Jul 30, 2008, 12:12 PM
    No, once the chapter 7 is discharge you can buy a house the next day, if you have someone that is willing to do the loan.
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