American Bankruptcy Institute
AVVO Clients' Choice Award 2020

Yes You Can Buy A Home Quicker With A Bankruptcy!

On behalf of Bankruptcy Law Firm of Clare Casas on Thursday, May 24, 2012.

FHA home loans were designed to help Americans fulfill their dream of home ownership and are therefore the easiest type of real estate mortgage loan to qualify for. They require a minimum down payment (3%) and is the most flexible type of home mortgage loan available. A bankruptcy does not keep you from qualifying - on the contrary, it will probably get you into a home faster than waiting 7 years for bad credit to drop off. THE ESSENTIALS FOR QUALIFYING:

  • Steady employment history, at least two years with the same employer.
  • Consistent or increasing income over the past two years.
  • Credit report should be in good standing with less than two thirty day late payments in the past two years.

Any bankruptcy on record must be at least two years old with good credit for the two consecutive years. (At least 3 credit lines and NEVER late on a payment)

  • Any foreclosure must be at least three years old with good credit for the past three years.
  • Mortgage payment qualified for must be approximately 30 percent of your total monthly gross income.

If you can answer YES to these statements you should have no problem qualifying for an FHA home mortgage loan.

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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.