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  1. #1
    Join Date
    Feb 2010
    Posts
    1

    Default Getting a FHA Loan After Bankruptcy

    My question involves bankruptcy in the state of: Ohio

    This past year, I went through chapter 7 bankruptcy and lost two properties in the process. The first was a rental home that I did not want to include in the bankruptcy due to some equity, but the trustee seized it as an asset and made known his intent to sell. However, he has not paid toward the mortgage and the mortgage company has started the foreclosure process, even as the trustee is preparing to sell. The second property was a Florida condo that I owned with three others. It was worth far less than the mortgage, but the mortgage was in good standing when I filed chapter 7 as well. Since then, the property mortgage and deed have not changed (I'm still officially on both) although the trustee has accepted the condo into the bankruptcy, he abandoned the property. The other owners have now stopped paying the mortgage and are weighing their options of deed-in-lieu, short sale, bankruptcy and selling out right and taking the loss. Other than this bankruptcy, my credit has been perfect for over 20 years. Base on the above, how long will it be until I'm eligible for an FHA loan? 2 years? 3 years? If it's a certain period of time, does the time start the day I filed? The date I was discharged? The date my bankruptcy was closed or the date the last property changes hand so that my name is no longer on the deed or mortgage? I keep getting conflicting information, even from FHA lenders. Even my bankruptcy attorney wasn't sure of the answer.

  2. #2
    Join Date
    Jan 2008
    Posts
    164

    Default Re: Getting a FHA Loan After Bankruptcy

    I am not a lawyer but i believe it starts at the time or date that you file?

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