Legal Question in Bankruptcy in Georgia

If you declare bankruptcy, can you buy a home?

My husband is thinking o declaring bankruptcy, just him though. I won't be declaring bankruptcy. At the present time I am not working, he is our provider. Hopefully in about a year we would love to have a home of our own...will that be possible?


Asked on 10/16/04, 7:37 pm

1 Answer from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: If you declare bankruptcy, can you buy a home?

If he files a Chapter 13, probably not, as he would need the court's okay.

If he files a Chapter 7, legally he can, but fewer lenders will do a loan, and they may charge a large premium in interest or otherwise give worse terms. Over time that effect may lessen (depending on lender) and waiting at least two years may save some significant money.

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Answered on 10/17/04, 1:02 am


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