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posted Oct 30, 2019 11:28:59 AM

Bankruptcy

Is it possible to purchase the home we are renting at any time during our bankruptcy?

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3 Replies
Level 15
Oct 30, 2019 11:35:10 AM

You should check with your BK attorney on this matter (see link below if you need to locate an attorney).

 

https://www.avvo.com/

 

Also, check out the web site below for financing information.

 

https://www.nolo.com/legal-encyclopedia/when-can-i-mortgage-after-bankruptcy.html

Not applicable
Oct 30, 2019 12:04:57 PM

not saying you can't but with your credit score in the crapper and in BK court, what company would give you a mortgage even at usurious rates and how would you come up with the monthly payments?     if you have enough cash to buy the house without a mortgage, I think creditors would want that money to go to reduce what you owe.      if your hiding assets from your creditors,  your next home might be 4 X 6 with vertical and horizontal bars and 1 small window.  

Level 15
Nov 1, 2019 6:46:22 PM

purchase of a home would be subject to the BK judge and the creditors......