{"id":5129,"date":"2021-05-17T05:09:08","date_gmt":"2021-05-17T05:09:08","guid":{"rendered":"https:\/\/nwdrlf.com\/?p=5129"},"modified":"2023-08-16T14:03:20","modified_gmt":"2023-08-16T14:03:20","slug":"a-guide-on-how-to-buy-a-house-after-bankruptcy","status":"publish","type":"post","link":"https:\/\/nwdrlf.com\/a-guide-on-how-to-buy-a-house-after-bankruptcy\/","title":{"rendered":"A Guide on How to Buy a House After Bankruptcy"},"content":{"rendered":"

Do you ever wonder if you can still buy a home after bankruptcy? Yes, it is possible. Even after the bankruptcy discharge, you can still be entitled to buy a new house. You just have to<\/span> rebuild your credit score <\/span><\/a>first, then apply for a home mortgage at the right timing.<\/span><\/p>\n

Bankruptcy gives you a lot of options for debt settlement. It can wipe out or eliminate some or all of your debts. You will have the opportunity to have a fresh start and enjoy a debt-free life. However, bankruptcy can stay on your credit report for a certain period and it can damage your credit history. This will have a great effect on your ability to qualify for credit or loans such as a new home mortgage, car loan, or credit card. Bankruptcy will reflect on your credit record for up to ten years, depending on the type of bankruptcy chapter that you have filed. However, you don\u2019t have to wait for ten years before you can apply for a new mortgage.<\/span><\/p>\n

In Oregon, purchasing a home after bankruptcy is possible as long as you have a strategic financial plan and determination. It is crucial to monitor your credit report at all times to avoid any errors. Although your credit score is greatly affected by the bankruptcy<\/a>, you can still rebuild it by using secured installment loans and credit cards. You just have to make sure that all your loan debts will be paid in full and on time according to the repayment plan.<\/span><\/p>\n

Here are some tips before you buy a house after a bankruptcy discharge:<\/span><\/p>\n

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  1. \u00a0 \u00a0 \u00a0 <\/span> Aim for bankruptcy discharge<\/span><\/li>\n
  2. \u00a0 \u00a0 \u00a0 <\/span> Monitor your credit report<\/span><\/li>\n
  3. \u00a0 \u00a0 \u00a0 <\/span> Ensure accuracy of the information on your credit report<\/span><\/li>\n
  4. \u00a0 \u00a0 \u00a0 <\/span> Rebuild and improve your credit score<\/span><\/a><\/li>\n<\/ol>\n

    <\/span>Aim for Bankruptcy Discharge<\/span><\/span><\/h2>
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