Crestview, Florida. – Goals for a new year can range from losing weight and saving for a new car to reducing monthly expenses and taking debt relief action. For some people, buying a new home is number one on an individual’s list of goals. This task can be quite stressful, as the act of buying a home on a normal basis can be a challenge, and that’s without considering the added difficulty for those who have had to apply. bankruptcy in the past. The good news is that buying a home after bankruptcy is possible, depending on a number of factors.
One factor to consider is that bankruptcy waiting periods exist and can vary. Another factor to consider is whether a person is planning to just pay cash for a new home or if they are considering borrowing money. Cash payment can be made by anyone, whether or not they have been discharged from bankruptcy in the past. If borrowing the funds to buy a new home is the only option, then according to Forbes Advisor, “Depending on the type of mortgage you qualify for, your lender, the type of bankruptcy you’ve filed, and the cause of your bankruptcy, you You may have to wait one to four years after filing for bankruptcy.You will also have to wait until your credit score has recovered enough to qualify for a mortgage.
The bottom line is, having had to file for bankruptcy in the past doesn’t mean someone can’t possibly buy their own home in the future. It just means that there are several components of the process to consider, so staying well informed is key.
For those who are still struggling to find debt relief help, Lewis and Jurnovoy offer free appointments for those considering filing for bankruptcy. The talented lawyers at Lewis and Jurnovoy can help you with a variety of debt types and a variety of financing levels. They work diligently to find the best financial solution for each client every time. For more information about bankruptcy assistance in or around Crestview, call Lewis and Jurnovoy at (850) 409-3350 or visit them online at www.LewisandJurnovoy.com.
For more information about Lewis & Jurnovoy, PA- Crestview, contact the company here:
Lewis & Jurnovoy, PA – Crestview
Steven D. Jurnovoy and Martin S. Lewis
1501 S. Ferdon Dr. Crestview, FL 32536