Port Orange, FL asked in Bankruptcy and Real Estate Law for Florida

Q: We filed a bankruptcy in 2015 and was discharged in sept 13th 2016 we repaid creditors . we had our primary residence 1

investmnt fast forward to 2020 we want to apply for a loan do we use our discharge date or the forclosure date from the investment property ?

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2 Lawyer Answers
Timothy Denison
Timothy Denison
Answered
  • Bankruptcy Lawyer
  • Louisville, KY

A: Discharge date.

Stuart A. Young
Stuart A. Young
PREMIUM
Answered
  • Bankruptcy Lawyer
  • West Palm Beach, FL
  • Licensed in Florida

A: It typically takes about a two year period from the date of the filing of your case (not discharge) in order to be approved for a FNMA or VA mortgage. Your mortgage broker may have a different opinion of course and these policies do change from time to time. I wish you the best of luck in re-establishing your credit. There is absolutely no reason for you not to be well on the path to financial security.

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