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krasae00 · Joined: 19 Nov 2009 Posts: 1 1.27 Dollars($)

We tried to save our house several times and nothing worked. We ended up surrendering the house in Ch. 7 bankruptcty. When can we get another mortgage loan? Some people say 1, 2, or 3 years. I know it stays on our record for a long time....

jameshogg · Posted: Thu Nov 19, 2009 7:38 pm Post subject:

Hi krasae,

Chapter 7 will stay in your credit report for the next 10 years. However, you would be able to qualify for a FHA loan 2 years after the discharge of Chapter 7. For conventional loans, you'll have to wait for 4 years after the discharge.

Thanks

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When can I get another mortgage after filing chp. 7 bankruptcy?