Buying a Home After Bankruptcy

image of home foreclosureSome clients are surprised to learn that, after filing bankruptcy, they are actually in better shape to buy a home than they were before. They wonder, “How is this possible with my credit?” By taking care of debt through Chapter 7 or Chapter 13, it shows that a person is serious about getting their debt problems under control. It also frees a person from onerous credit card debt and other bills that make it impossible to save up for a down payment. While there are some restrictions immediately following a bankruptcy, within two years most people are able to at least examine the possibility of buying a house. Continue reading