You Can Get a
House After Bankruptcy
There are those that believe that it is not possible to get a
house once they declare bankruptcy. They think that because they
have written off all of their debts, and yes, put a black mark
on their credit for the next seven to ten years – that they will
not be able to purchase a home, a car, get credit cards, etc.
However, this is not always true. Depending on your
circumstance, and how long you wait to pay back those bills you
could find that you are actually in a position to purchase a
home again.
Once your bankruptcy is discharged you can look into purchasing
a home if you want one – approximately two years after you have
filed. But there are steps you need to take to get that home.
First you need to wait six months before you do anything. Then
you want to apply for a small installment loan. This loan
will show a payment history that is positive and show that you
paid off the loan. This will go a long way to making your credit
look better. Any kind of loan will do. You also want to save as
much money as possible so that you can put down a significant
down payment on the mortgage.
The lender will see that not only are you serious about
improving your credit, but that you are also working hard to
increase your score. These things will make it infinitely easier
to get that loan, and set you up to getting a home or any other
form of credit that you might need in the future.
SIGN UP
