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serious ? my head hurts from searching so much about buying a house

Posted by on Mar. 28, 2011 at 12:11 PM
  • 3 Replies

We filed chapter 7, 2 years ago and wanna buy a house we saw it is a foreclosed home down from 125,000 to 40,000 what a deal, how do we do this or who can we go through???? I live in MI and my bank won't even touch a bankruptcy until the 7 years is up, any ideas?

by on Mar. 28, 2011 at 12:11 PM
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Replies (1-3):
Jojo907
by on Mar. 28, 2011 at 12:32 PM

Bankruptcies are 10 years on your credit report, not 7-at least according to some lawyers friends I know. Your bank might help you if you get a co-signer (someone who would agree to be legally responsible if you default). Talk to your parents and see if that is an option for you. Good luck!

SarahlovesLiz
by on Mar. 28, 2011 at 1:06 PM

Quicken loans maybe?  IDK, though, sorry.  Here's a bump!  :)

Lace2180
by on Mar. 28, 2011 at 1:14 PM


Quoting Jojo907:

Bankruptcies are 10 years on your credit report, not 7-at least according to some lawyers friends I know. Your bank might help you if you get a co-signer (someone who would agree to be legally responsible if you default). Talk to your parents and see if that is an option for you. Good luck!

yes, they may stay on for 10 idr but my bank requires a 7yr Waite period.  we were just hoping because paying $725 a month for a 700sq ft house gets old and cramped lol and this house is 18,860sq ft I think?

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