If I file Bankruptcy will I ever be able to own a Home?

You know, many clients come in and as we are going through the initial consultation or at the papers appointment, they ask “Will I ever be able  to own a home again?”  Yes you will.  Most of my clients get themselves into bad situations, and if you have a sufficient amount of income in order to make a home mortgage payment in the future, you can most likely qualify to own a home or own a car, or even go out and get credit cards again.  Now, certain things I don’t recommend.

I don’t recommend that you go out and get yourself into unsecured credit card debt again, but most of our clients are able  to go out and either buy a home again, or refinance a home after filing a bankruptcy.

There is a time limit you will want to wait and that depends on what type of loan you want to get.  You really should talk to a qualified loan officer about this because there are rules and regulations, and they can explain this to you better than I can.  However, what I have found in my practice is that my clients, if they want to own a home, and they have a sufficient amount of income, they are able to do that after filing bankruptcy.

Come on into our office.  We would love to be able to talk to you about what bankruptcy is and what it can do to help you in your situation.

We look forward to seeing you.

Thank you.