Does anyone know anything about foreclosure after bankruptcy?
I filled Chap 7 bankruptcy a year ago and now they are foreclosing on the house. We did not reaffirm it, just paid to stay.
All I want to know is if I am now on the Chap 7 time line to get a new home loan or if the foreclosure starts the time anew. I can't get a straight answer online and I rather not call my lawyer who may want me to pay to come in to answer this question. Which one below am I??
For Conventional Loans:
•Chapter 7 Bankruptcy – 4 year waiting
•Foreclosure – 7 year waiting period from the completion date
For FHA or VA Loans:
•Chapter 7 Bankruptcy – 2 year waiting period from the discharge/dismissal date
•Foreclosure/Preforeclosure (Short Sale) – 3 year waiting period