Homeownership after Bankruptcy

Credit Repair Series: Bankruptcy

Last week in our credit repair series, we met with Darin Heller, a mortgage loan officer at AMEC to discuss a client’s options for buying a house after bankruptcy.

First things first. Where do you start?

What’s most important is knowing which type of bankruptcy you are going through as this will determine your homeownership journey.

Two Types:
Chapter 13: This is a debt repayment program
Chapter 7: This is a discharge of your debt

If you are a Chapter 13 bankruptcy, the good news is that you can buy a home while you’re in the middle of your payment plan!

What you need:
– Good Credit Otherwise
– 1 Year of Payments
– FHA Mortgage

If you’re interested in learning about other mortgage options like VA or Conventional, watch our video to hear Darrin’s advice.

When you’re ready to begin the home buying process, Darin advises you to reach out about 6 months (if not a year) in advance to ensure you are set up for success, your credit score is in check, and all other details are in order.

This is not a small task and it’s important to have a team behind you supporting you, educating you, and guiding you through the process. For all of your credit repair, bankruptcy, and home buying needs, please do not hesitate to reach out to a team that has your back, The MAX Team!

Contact us at:
(651) 248-6091

Contact Darin at:
(612) 810-9726

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