Mortgage/Bankruptcy

[jt30]

Hi,

I was reading a previous thread about applying for a mortgage after bankruptcy. Does anyone know if you have to actually be out of bankruptcy before you can apply for a mortgage? - or any credit for that matter....

[Gen3]

As far as I know, you don't have to be out of bankruptcy, but you do need to be a fair way through to be considered - 4 or 5 years, even though it stays on your file for 10yrs.

[derdo]

A mortgage represents a loan or lien on a property/house that has to be paid over a specified period of time. Think of it as your personal guarantee that you'll repay the money you've borrowed to buy your home. Mortgages come in many different shapes and sizes, each with its own advantages and disadvantages. Make sure you select the mortgage that is right for you, your future plans, and your financial picture.

[rachael24]

I agree with Gen...You do not have to be completely out of bankruptcy...But need to be in good standing and far though it

[spencer24]

Why would anyone in bankruptcy want to take on more debt? Don't these people ever learn?