Updated about 11 years ago on . Most recent reply
Bankruptcy
I filed chapter 7 bankruptcy 2 years ago. Since that time I reestablished credit with a score about 650. I also purchased my home cash. So I have full equity. My question is how long after bankruptcy will lenders start to lend to me for investing? I do understand there are some other ways. I just don't know them all yet as I'm just starting.
Most Popular Reply
I am a bankruptcy attorney and I regularly have old clients contacting me who are applying for loans and they need proof of their discharge. The FHA guideline is 2 years:
http://portal.hud.gov/hudportal/documents/huddoc?i...
This is from your discharge date and is for a FHA insured loan (a lot of them!). Obviously everyone has their own way of doing things but don't give up with the first no.