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I was divorced in 2004 and had no choice but to declare bankruptcy in 2007. The bankruptcy was discharged 11/26/07, is it at all possible to qualify for the first time home buyer tax credit?

Thanks.

brian3 · Joined: 09 Jun 2009 Posts: 80 21.31 Dollars($)

Hello Bankrupt you will not be able to qualify for an FHA mortgage for 2 years. You must have re-established credit after the BK and all of your payments must be on time. By the time your BK is seasoned enough for the FHA guidelines the tax credit is scheduled to be gone....but who knows there is alot of talk about extending the credit and possibly increasing it. Any questions let me know. good luck!

robertsmith2005 · Joined: 22 May 2009 Posts: 338 -0.48 Dollars($)

you need to qualify for FHA loan.

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Is it possible to qualify with my bankruptcy?