This one is one the most common questions Austin bankruptcy attorneys hear.
The answer is that it really depends on the type of bankruptcy being filed and the individual financial circumstances of each person.
In short, yes you will be able to buy a home after bankruptcy. You may be required to come up with a bigger down payment and you may have to wait a few years but it is possible. But if you file for a Chapter 13 bankruptcy and it has not been discharged, you may need permission from the trustee to enter into an additional home loan agreement.
What you need to keep in mind is that you should have re-established your credit in 3-4 years after your bankruptcy is discharged. Even if a bankruptcy remains on your credit report for 10 years, most lenders will only care about the most recent activity and your current financial circumstances.
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About Nachawati Law Group
Nachawati Law Group represents parties in mass tort litigation, businesses and governmental entities in contingent litigation, and individuals in complex personal injury litigation. For more information, visit contact or call 214-890-0711.
