As a Bankruptcy and Foreclosure Attorney, I am frequently asked how long after Bankruptcy, Foreclosure, or Short Sale a mortgage loan can be obtained. While everyone's situation is different, the following table is a good overview. It elaborates on the relationship between mortgage loan, and bankruptcy, foreclosure, or short sale.
| Chapter 7 Bankruptcy or Chapter 11 Bankruptcy | 4 Years |
| Chapter 13 Bankruptcy | 2 Years from discharge4 Years from dismissal date |
| Multiple Bankruptcy Filings | 5 Years if more than 1 filing within the past 7 years |
| Foreclosure | 3 - 7 years depending on extenuating circumstances which would require additional documentation |
| Deed-in-Lieu of foreclosure-Foreclosure Sale
Short Sale | 2 years- 80% max LTV ratios4 years- 90% max LTV ratios
3 years from completion date Greater LTVs can require up to 7 years |
If you have questions about foreclosure, loan modification, bankruptcy, or other alternatives, please feel free to call my office at 888-886-0020, send an e-mail to emil@fleysherlaw.com, or complete the contact form below.
