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Old 04-05-2003, 09:43 PM
beachbrats
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bankruptcy/ newhome purchase

What is the name of your state? OR

I am currently in a huge financial hole 18k+. Iam considering bankruptcy. which is the best option 7,11, 13? What is the best to purchase a new home as soon as possible?how long would i possiblly have to wait after a bankruptcy to purchase?
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Old 04-06-2003, 10:18 AM
dorenephilpot
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If you purchase a home and then file for BK protection, then you can reaffirm your home, keep it, keep paying on it, etc.

The question really is will anyone loan you the money for a home at an interest rate you can live with if you are in financial straits sufficient to be considering a bankruptcy filing.

Buying a home after your BK is possible, but, again, interest rates might be an issue because you would be considered to be more high risk.

Of course, you probably already fall into that category b/c of your debt to income ratio.
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