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mikepittman
31 Posts |
 Posted - 05/14/2008 : 07:10:46 AM
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| What are the requirements on a chpt 13 bk, how long does it have to be discharged to qualify for a fha loan? |
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IMBDave
7 Posts |
Posted - 05/14/2008 : 07:12:06 AM
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| Check your guidelines but it should be 12 months. |
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Clr2close
330 Posts |
Posted - 05/14/2008 : 07:14:04 AM
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| As per underwriting 1 day out of chapter 13 I actually have 2 files which are purchases were they discharged last week and I have them approved already |
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Ruby2sdae2
293 Posts |
Posted - 05/14/2008 : 07:14:10 AM
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| It doesn't need to be discharged but the file date does have to be at least 12 months prior and all payments made on time. |
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mikepittman
31 Posts |
Posted - 05/14/2008 : 07:15:09 AM
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| I did and it said that they have to make 1 yr of on time pmts but nothing about how long it has to be discharged. I know chapt 7 is 2 yrs. |
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IFox
315 Posts |
Posted - 05/14/2008 : 07:36:15 AM
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| BK 13 don't go by discharge date but by the filing date. |
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jvanpetten
2546 Posts |
Posted - 05/14/2008 : 08:29:46 AM
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That is because it doesn't need to be discharged. They can buy or refinance while in a Chapter 13, but the Bankruptcy Trustee must approve it.
quote:
Originally posted by mikepittman
I did and it said that they have to make 1 yr of on time pmts but nothing about how long it has to be discharged. I know chapt 7 is 2 yrs.
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10000lakes
8 Posts |
Posted - 05/14/2008 : 09:03:09 AM
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| Chapter 13s require 12 month on time payments. Thats it. |
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