You may have thought that filing bankruptcy spelled the end of your home buying dreams. However, you can still buy a home after you take advantage of this fresh financial start. By taking your time and following this timeline, you may find that home buying is definitely in your future. The key is to take this financial start and be smart about it. By learning from the bankruptcy, rather than just getting back in debt, you can ensure that it is truly a new start financially for you and your family.
So, this infographic provides useful information and tips for buying a house after filing for bankruptcy, after bankruptcy and foreclosure.
First, a lot depends on the type of loan you are seeking and how you handle credit in the wake of your bankruptcy or foreclosure. Next, the most common consumer-centric forms of bankruptcy are Chapter 7 and Chapter 13. As for buying after foreclosure, consumers who lose a home to foreclosure can face a considerably longer wait.
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