Posted on: 07th Jul, 2009 06:05 pm
I currently own a home but I want to sell and get a new home. They are offering a lease option for 6 - 12 months. If I sell the house during this period of time, it would remove all debts.
hi bentrepeneur,
if you file chapter 13 bankruptcy, you will have to wait for about 2 years after the bankruptcy discharge to qualify for a loan. if you make the payments on time under the chapter 13 plan, you may get a loan even before 2 years after discharge. the lease purchase option will be a good option for you. but if you have not yet been discharged from the bankruptcy, you might not be able to qualify for a loan after 6-12 months from now on, when the lease period ends.
if you file chapter 13 bankruptcy, you will have to wait for about 2 years after the bankruptcy discharge to qualify for a loan. if you make the payments on time under the chapter 13 plan, you may get a loan even before 2 years after discharge. the lease purchase option will be a good option for you. but if you have not yet been discharged from the bankruptcy, you might not be able to qualify for a loan after 6-12 months from now on, when the lease period ends.