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Is it possible to get financing to purchase a house and a car after filing Chapter 7 bankruptcy for the second time?

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You need your Bankruptcy Chapter 7 to be discharged first before getting a loan to buy a house. Most lenders require two to four years of re-established credit before they will consider making you a loan. However, many lending sources are competing today to make loans to borrowers with less-than-perfect credit even if you have had your Chpter 7 discharged less than two years ago. You may need to put down a sizable down payment,and have sufficient income to qualify howevevr.

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there are some mortgage lenders that will allow one day out of bankruptcy with 100% financing

First answer by ID2560844931. Last edit by ID2560844931. Question popularity: 202 [recommend question].

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Relevant answers:

What is filing chapter 7 bankruptcy?
Chapter 7 is called Liquidation Under the Bankruptcy Code and is the chapter of the Bankruptcy Code providing for "liquidation,", the sale of a debtor's nonexempt property and the distribution of the...
Can you keep your house when filing a chapter 7 bankruptcy?
cant you sign it over to someone you trust like a wife , husband etc.... so it cant be taken
Normally how long after filing chapter 7 bankruptcy can you purchase a house?
Typically, mortgage companies are willing to lend to a consumer 12 months after a bankruptcy is DISCHARGED. Make sure that the disposition is recorded on all three credit bureaus. Also, follow up...
What can you do instead of filing for bankruptcy a second time?
Don't get in debt and realize you can't get out of debt by borrowing. Get financial counseling and education. Live within your means, whatever they be.
Can you keep your cars in a chapter 7 bankruptcy?
Yes, you can keep you car in chapter 7 bankruptcy. In Chapter 7 bankruptcy there are some rules. You can only file Chapter 7 if your income is below your state's median or is not enough to pay off...