In June, I filed Chapter 7 and my house is in foreclosure. My wife has lung cancer, the house is too large, and I owe more on it than its worth. I have a pension of $4000.00 a month and want to buy a smaller house for around $60,000.00. Is there any way that I can do this with 20% down? The house that I have in mind is on a short sale, as is my house.
Chances are that while you have a stable income, you have just filed bankruptcy, and you are not able to afford the home you have. Creditors have lost money on you, and will in the near future when your home is sold for less than what is owed. What incentive does a new lender have to make you a new loan? While it never hurts to ask, you'll probably have a hard time securing a new mortgage.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
Chances are that while you have a stable income, you have just filed bankruptcy, and you are not able to afford the home you have. Creditors have lost money on you, and will in the near future when your home is sold for less than what is owed. What incentive does a new lender have to make you a new 