If you are currently making payments in a 3- to 5-year reorganization plan, you don't necessarily have to wait for it to end. Under FHA , VA , and USDA guidelines, you can apply for a home loan if you meet these requirements:
Experts and those who have navigated the process often emphasize that Chapter 13 can be viewed more favorably than Chapter 7 because it demonstrates a commitment to repaying debt. can you buy a house after chapter 13
: You must file a motion with the bankruptcy court and receive written permission from your trustee and the judge to take on new debt. If you are currently making payments in a
The time you must wait to apply for a mortgage depends on the loan program and whether your bankruptcy was (successfully completed) or dismissed (stopped before completion). Mortgage Type Waiting Period After Chapter 13 Discharge Waiting Period After Chapter 13 Dismissal FHA Loan No waiting period VA Loan No waiting period USDA Loan No waiting period Conventional Buying While in an Active Chapter 13 Plan The time you must wait to apply for