Does anyone know how long it takes after a bankruptcy, before someone can qualify to get an FHA loan? I have a couple who went through a bankruptcy early this year, that want to do a lease option on my Auction Home. I want to sell in less than a year to get my down payment back, and make more investments. They will have the money in about 3 months for down payment and closing costs.




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Some lenders will work with borrowers 24 months after they are discharged from bankruptcy. The time frame from filing to discharge may be several months. If they filed in early 2008, it could be early 2011 before a lender will consider them for another loan.


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Hey Al,

It also depends on what chapter they filed. Chap 7 FHA did my sister's loan after 15months because she had canceled checks showing she paid her contract for deed on time for that duration after her discharge which was 60 days after she filed.

Our other friends filed Chap 13 and they were told by FHA that they had to wait until they completed the 5 year payment plan with the bankruptcy administrator.

Have a super sunny day:)
Donna (WYO)

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