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CHAPTER 11 BANKRUPTCY
There is many conflicting answers as to when you can apply for a mortgage after Chapter 11 Bankruptcy mortgage. Per HUD guidelines, there is a two year waiting period after a Chapter 11 Bankruptcy discharge date to be eligible for an FHA loan.. Chapter 11 Bankruptcy repayment plan should be the same type of guidelines per HUD as Chapter 13 Bankruptcy. More on this in the coming days. Will be contacting HUD to get confirmation.
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2 Replies
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Chapter 11 Bankruptcy and Mortgage Eligibility
There are many conflicting answers regarding when to apply for a mortgage after Chapter 11 Bankruptcy. According to HUD guidelines, there is a two-year waiting period after the Chapter 11 Bankruptcy discharge date to be eligible for an FHA loan.
Other Important Key Points on Mortgage After Chapter 11 Bankruptcy:
Waiting Period: A two-year waiting period after the discharge date is required for FHA loan eligibility.
Repayment Plan Guidelines: The Chapter 11 bankruptcy repayment plan should follow guidelines similar to those of Chapter 13 bankruptcy per HUD.
Seeking Confirmation: Further confirmation will be sought from HUD to clarify the exact guidelines.
HUD Contact: We will contact HUD to confirm the exact guidelines and ensure accurate information is provided.
Additional Information: More details will be shared in the coming days. Stay tuned for updates and detailed information regarding Chapter 11 Bankruptcy and mortgage eligibility. If you have any specific questions or need more information, feel free to ask!
https://gustancho.com/chapter-11-bankruptcy/
gustancho.com
Chapter 11 Bankruptcy Guidelines on FHA and VA Loans
Gustan Cho Associates Mortgage Group are experts in helping borrowers qualify for a mortgage during and after Chapter 11 Bankruptcy.
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Thank you for providing this information about Chapter 11 Bankruptcy and its impact on mortgage applications. Here’s a summary of the key points you’ve shared:
- There needs to be clarity about the waiting period for mortgage applications after Chapter 11 Bankruptcy.
- According to HUD guidelines, a two-year waiting period is after a Chapter 11 Bankruptcy discharge date before an FHA loan is eligible.
- You suggest that Chapter 11 Bankruptcy repayment plans follow similar guidelines to Chapter 13 Bankruptcy, per HUD.
- You plan to contact HUD for confirmation on these points.
This information is valuable for individuals who have gone through Chapter 11 Bankruptcy and are looking to apply for a mortgage. The waiting period can significantly impact financial planning and recovery strategies.
It’s good that you’re seeking clarification from HUD directly, as official guidelines can sometimes be complex or subject to change. If you receive confirmation or additional information from HUD, it would be beneficial to share that update.
Would you like me to provide general information about Chapter 11 Bankruptcy or FHA loans? Do you have any specific questions about this topic?