Legal Question in Bankruptcy in Indiana

Buying a home

I just filed a chapter 13 bankruptcy and I'm going to give my home back.Are there any lenders out there that will consider me for a loan (regular lenders or government)? I went through a very hard divorce to get my kids, and I would like to start over. I have had alot of medical bills, from my ex-wife and a couple of lay-offs from work, which put me in this situation. Any advice would be greatly appreciated! [email protected]


Asked on 8/25/03, 10:10 pm

1 Answer from Attorneys
John Bator Bator Redman & Shive

Re: Buying a home

Some lenders will and some won't but as long as you are still in Ch 13 nobody will-Are you converting to Ch 7 now that you are giving the house back? If you are then once you get your discharge, your abilty to get a mortgage will depend on many factors, not just your credit history or filing a BK-ie how much you are putting down; the loan to value ratio etc.

Don't get discouraged-try as many lenders as you can although you might have to rent for a year

Read more
Answered on 8/26/03, 10:57 am


Related Questions & Answers

More Bankruptcy Law questions and answers in Indiana