Can I Buy a House After Bankruptcy?

Series Summary

Finance, whether personal or corporate, refers to money management. By creating a personal budget and managing money, one can organize personal finances to avoid debt caused by frivolous spending. When a surplus of money is formed, investing is an option that makes money work harder. Investing varies from low-risk certificates of deposit to high-risk stocks. Being smart with money can create a healthy savings for the future or retirement, while avoiding problems such as bankruptcy. In this free video series on bankruptcy, lawyer Andy Forman discusses the proper actions and procedures for handling various bankruptcy claims. Forman begins by explaining how to file for bankruptcy, establish good credit after bankruptcy, file bankruptcy for a business and rent a house during bankruptcy. He then discusses the different types of bankruptcy, what the Free Credit Reporting Act is, requirements for filing bankruptcy and even how to determine bankruptcy jurisdiction. Watch these free videos and learn more about bankruptcy court today.

Video Transcript

"So you've filed a bankruptcy and your case is now discharged and you're wondering, can I buy a house after bankruptcy? I'm Andy Foreman. I'm a consumer bankruptcy lawyer and I can help you. Many Americans have the misconception that you're not going to be able to buy a house after bankruptcy. That's a myth. There's actually rules and regulations that provide two years from the date of your bankruptcy discharge, you're illegible for FHA financing. Any mortgage is a complicated process and you'll need to talk to professionals who can guide you through that process. But the rules and regulations for the Federal Home Loan Mortgage Association provide that bankruptcy does not preclude a home mortgage two years from the date of your discharge. Those rules also provide that you're going to have to qualify for that mortgage with employment, with down payment, with credit worthiness. But you will not be precluded from getting a house just because you did a bankruptcy. You do need to make sure that your credit is strong and that it's correct. And again, I'm Andy Foreman and you can buy a house after bankruptcy. Good luck."