How soon after filing bankruptcy can I buy a house?
There is no law or regulation that mandates a minimum waiting period between a bankruptcy and home purchase. On the other hand, practical considerations can make a quick purchase difficult.Time FrameThere is no law that would prevent you from buying a house immediately after filing for bankruptcy. However, the bankruptcy will of course show in your financial history and any lender is extremely unlikely to lend you a substantial amount of money toward a purchase soon after a bankruptcy.First OptionIf you show up at the seller’s door with 100 percent cash, you will need no financing, of course. Under such ideal circumstances, the seller may not even need to know your financial history, and chances are you won’t even need to disclose your recent bankruptcy. Do not lie if asked about your financial past. You can, however, state that you will be paying full in cash and point out that your credit score, as well as payment history is irrelevant.Down PaymentWhile a 10 percent to 15 percent dow
