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Can I Get a Mortgage After a Chapter 13 Bankruptcy? – Kellie

Written by Steve Rhode

“Dear Steve,

I recently discharged my ch 13. I am interested in understanding how long I should wait to consider a new home purchase. My fiancé has excellent credit but I contribute the bulk of the income. I am hoping that the 2 years you eluded to can be minimized with his credit history. Thoughts?

Kellie”

Dear Kellie,

The reality is that every situation is slightly different. And in your case it isn’t really how long since a chapter 13 discharge that is critical but what you’ve done since that time to begin to rebuild your credit. I talk about how to do this in this article.

The smart move at this point would be to start rebuilding your credit and at the same time find a local mortgage broker who represents a number of different lenders. Your eligibility is going to be based on a number of factors, including how flexible lenders are with consumers who are similar to your borrowing profile.

While he might have a good credit score, I don’t know how seasoned his credit is or even what his score is.

Please post your responses and follow-up messages to me on this in the comments section below.

Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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