Location: South Carolina
Submitted 07/30/12 05:56 PM

Q. I meant can you try to purchase a home while your still in bankruptcy through your trustee

 

Answer #1
Submitted 07/30/12 08:23 PM
Virginia Cheezum (F. C. Tucker Company): Real Estate Agent in Indianapolis, IN Virginia Cheezum (F. C. Tucker Company)
Real Estate Agent
Indianapolis, IN

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A.

I would say that your options are limited for now and the answer is no.  Get through the bankruptcy and recover from there. 

Answer #2
Submitted 07/31/12 10:11 AM
Steven Cook,  - Pierce, King, Kitsap, Thurston, Mason Counties (No Longer Processing Mortgages.): Mortgage and Lending in Tacoma, WA Steven Cook, - Pierce, King, Kitsap, Thurston, Mason Counties (No Longer Processing Mortgages.)
Mortgage and Lending
Tacoma, WA

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A.

Actually, it may depend on the type of Bankruptcy you are in, chap 7 or 13, and what the payments on the new residence might be, compared to current housing costs.  For example, it might be possible in a chapter 13 (wage earner) bankruptcy to purchase house, with trustees agreement, if it makes a big difference in your housing costs.  Then the trick is finding the couple of lenders who would be willing to do it.

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