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Purchasing Home "Outside Of Bankruptcy"

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  • 04-17-2008, 04:34 PM
    diannamichaelson
    Purchasing Home "Outside Of Bankruptcy"
    My question involves bankruptcy in the state of: Nevada

    Does anyone know what the percentages of requests for "purchase of home outside of bankruptcy" approvals? I am 3 years into a 4 year BK. I have been on time every month with my BK payments. I am being evicted from my home I was renting due to foreclosure and want to purchase a home. I have the down payment through not paying rent due to the foreclosure. I have been approved for an FHA loan. Was just wondering what my chances are?
  • 04-17-2008, 10:06 PM
    AmieRenee1980
    Re: Purchasing Home "Outside Of BK"
    As far as getting approval from the ct & trustee to purchase the home, your chances are pretty decent as long as you can show that you can afford the payments and still maintain your ch 13 payments, and as long as it is financially beneficial for you to purchase a home rather than continue renting (for example you can obtain a lower mortgage payment than what you have been paying for rent). Most of our clients who met those guidelines were approved.
  • 04-25-2008, 10:50 AM
    diannamichaelson
    Re: Purchasing Home "Outside Of BK"
    Thank you for your info. We were approved yesterday and will close on our house on May 2nd. Whoo Hoo!!!
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