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i am disabled with my only income being SS disability which has forced me into a chapter 7. is there any hope for me getting a mobile home loan with a 20-25% down payment?

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Icon Mini Profile janetboil3





Joined: 24 Aug 2009

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Post Posted: Mon Aug 24, 2009 1:27 pm    Post subject: i am disabled with my only income being SS disability which
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i am disabled with my only income being SS disability which has forced me into a chapter 7. is there any hope for me getting a mobile home loan with a...My income at present is $1070/month. No debt.
Icon Mini Profile smithsussane
smith.sussane




Joined: 18 Sep 2008

Posts: 10030
Location: Alaska
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Post Posted: Mon Aug 24, 2009 10:16 pm    Post subject:
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Hi janetboil!

Welcome to forums!

You haven't mentioned when you got discharged from your Chapter 7 bankruptcy. In order to qualify for a FHA loan after Chapter 7 bankruptcy, you'll have to wait for 2 years and if you want a conventional loan, you will have to wait for 4 years.

If 2 years have already passed since your chapter 7 bankruptcy was discharged, you can apply for a FHA loan.

Feel free to ask if you've further queries.

Sussane
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