Before a home buyer can use a VA loan after a foreclosure, they’ll have to wait two years. If the foreclosure was the result of a bankruptcy, the wait time could be different. Chapter 13 bankruptcies only require a one-year wait while Chapter 7 bankruptcies require a two-year wait. If...
If you've gone through bankruptcy, you're probably considering your new financial options and might be wondering whether homeownership is in the cards for you. Although it does take time and is difficult, it's not impossible to buy a house after declaring bankruptcy. The exact steps you need...
If you've gone through bankruptcy, you're probably considering your new financial options and might be wondering whether homeownership is in the cards for you. Although it does take time and is difficult, it's not impossible to buy a house after declaring bankruptcy. The exact steps yo...
Start your online business today. For free. Start free trial At the end of the day, we very much realized that we're not out here to save people's lives, so we try to keep it pretty lighthearted and have fun, and a lot of that comes through with how we deal with our customers ...
If the assets attached are liquidated, they may not be enough to pay all the debts meaning to pay some and leave others would be unfair. For this reason, the trustee will not liquidate the property. For instance, your house is valued at $250,000, and you have a mortgage of $200,000...
Your credit scores are calculated based on the information in your credit report. It's possible to get a job with less-than-perfect credit, but some employers may view it as a potential red flag if they see things like late payments or bankruptcies. Checking your credit reports before ...
You can also negotiate with the seller to cover some of the closing costs, also called seller concessions. Keep in mind that the seller can only offer so much in closing costs. This depends on the buyer’s loan type, down payment amount, and more. Let’s take a look. ...
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exempt property that can be used to pay back their creditors and if so how much money they earn each month. There are three main chapters in bankruptcy: Chapter 7 which discharges debts, Chapter 13 which sets up a plan to pay debts back over time and Chapter 11 for business bankruptcies....
scoremore severely than any other single financial event. While not all bankruptcies actually cause a big drop in your score—in fact, it is theoretically possible that your credit score could rise following a bankruptcy—any negative effect makes it more challenging to acquire credit in the ...