https://uww.wfgnationaltitle.com/index.php?action=history&feed=atom&title=FHA_Bankruptcy_Standards 2026-04-30T14:18:57Z Revision history for this page on the wiki MediaWiki 1.31.0 https://uww.wfgnationaltitle.com/index.php?title=FHA_Bankruptcy_Standards&diff=5476&oldid=prev 2020-07-03T14:20:58Z

<p>Created page with &quot;After Chapter 7 bankruptcy, the borrower must wait out the FHA&#039;s minimum &quot;seasoning&quot; period of 2 years. FHA rules allow a lender to consider approving an FHA loan purchase o...&quot;</p> <p><b>New page</b></p><div>After Chapter 7 bankruptcy, the borrower must wait out the FHA's minimum &quot;seasoning&quot; period of 2 years. <br /> <br /> FHA rules allow a lender to consider approving an FHA loan purchase or refinance application from a borrower who is still paying on a Chapter 13 Bankruptcy-but only if those payments have been made and verified for a period of at least one year.<br /> <br /> The borrower isn't automatically able to apply for a new FHA loan if they meet this requirement--the court trustee's written approval is a condition of the policy. Additionally, the borrower must write a detailed explanation of the bankruptcy and submit it with the loan application. The borrower must have good credit, a satisfactory employment history and other financial qualifications.<br /> <br /> As mentioned above, all borrowers must wait least two years after the discharge date of a Chapter 7 Bankruptcy. The discharge date should not be confused with the date bankruptcy was filed.<br /> <br /> As with Chapter 13 bankruptcy, FHA regulations demand a full explanation to be submitted with the FHA home loan application. To get a new FHA insured mortgage loan after Chapter 7, the borrower must qualify financially, establish a history of good credit in the wake of the filing of the Chapter 7, and meet other FHA requirements.<br /> <br /> Source: Tony Scott, Mortgage Loan Originator, Nexa Mortgage, info@asmfloans.com<br /> Web: www.ASMFLoans.com</div>

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