Posted on: 13th Apr, 2010 03:53 pm
i will be turning my house over after my chapter 7 is final. i know that depending on credit scores i am not eligible really for another home loan for two years. my question is this: can i get a new mortgage if i have a co-signer with really good credit as soon as my chapter 7 is discharged? if so, i assume i could refinance after two or three years and get the co-signer off and get a sensible interest rate on my own.
Hi kuffum,
Though you have a cosigner, you would be the primary borrower of the loan. Thus, I don't think you would be able to get a mortgage just after your bankruptcy has been discharged. If you want a conventional loan, you will have to wait for 4 years after your Chapter 7 discharge and 2 years to get a conventional loan.
Thanks
Though you have a cosigner, you would be the primary borrower of the loan. Thus, I don't think you would be able to get a mortgage just after your bankruptcy has been discharged. If you want a conventional loan, you will have to wait for 4 years after your Chapter 7 discharge and 2 years to get a conventional loan.
Thanks