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Can I Buy A Fort Lauderdale Home After Filing Bankruptcy?

On behalf of Bankruptcy Law Firm of Clare Casas on Wednesday, October 27, 2010.

In a previous blog entry, I answered a common concern that people have when considering whether to file bankruptcy. Can I buy a house again? The answer to that is yes, you can. After two years, you can qualify for an FHA mortgage again if you have qualify. So, how do you qualify?

In order to qualify for an FHA mortgage after a Chapter 7 bankruptcy, you must first wait until two years have passed since you received your discharge. During this two year period, you must have also re-established good credit and achieved a minimum credit score of 620. FHA guidelines currently define that as having at least three (3) credit lines that have been active for at least twelve months and always paid on time.

There is a misperception that once you file bankruptcy, you won't be able to get credit or buy a house for as long as the bankruptcy is on your credit report. This is false. Most of my clients begin to receive credit card offers in the mail again just months after their case is discharged.

Don't let what other people have told you about bankruptcy keep you from finding out the facts from a qualified professional.

Client Reviews
Clare and all of her staff are truly amazing. Very thorough and always there for you through this difficult time. I recommend her for your bankruptcy needs. Don't go anywhere else. Andrea S.
Clare and her staff are truly amazing!! My case was prepared and closed in less than 4 months. It was a lot of work, but they helped me through it all. If you need help and guidance Attorney Clare Casas is the number one choice!! Val S.
Attorney Clare Casas and her staff were not only professional and effective during my case they were also kind and understanding. If you're considering or need an attorney for financial matters, I highly recommend contacting this office first. You'll be glad you did! R.J. T.