Entering 3rd year of 5 year chapter 13 with timely payments in last 12 months.

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Rainmaker
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Michael Jacobs

Pasadena, CA

Pasadena And Southern California 818.516.4393

John -- it looks like you are in New Jersey, I suggest chatting with John Meussner who is licensed in your state.

Oct 17, 2017 05:51 AM

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John Meussner

Fair Oaks, CA
Kevin J. May

Hobe Sound, FL
Mary Yonkers

Erie, PA
Ron and Alexandra Seigel

Carpinteria, CA
Carol Williams

Wenatchee, WA

Rainmaker
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Ron and Alexandra Seigel

Napa Consultants - Carpinteria, CA

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Heed Michael Jacobs advice.

Oct 17, 2017 07:06 AM

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John Meussner

Fair Oaks, CA
Mary Yonkers

Erie, PA
Michael Jacobs

Pasadena, CA

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Jeff Dowler, CRS

eXp Realty of California, Inc. - Carlsbad, CA

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Michael Jacobs has given you the answer I woul

Oct 17, 2017 06:53 AM

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John Meussner

Fair Oaks, CA
Mary Yonkers

Erie, PA
Michael Jacobs

Pasadena, CA

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JoAnn Moore

The Mortgage Market of Delaware - Georgetown, DE

Home Loans in Delaware

Chapter 13- (FHA) 1 year of the pay out period must have elapsed and payments made on time. Borrowers must receive permission from the courts to enter into a mortgage.

Oct 17, 2017 06:34 AM

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Sheri Sperry - MCNE®

Sedona, AZ
Kathleen Daniels, Prob...

San Jose, CA
Mary Yonkers

Erie, PA

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Debe Maxwell, CRS

Savvy + Company (704) 491-3310 - Charlotte, NC

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Yes, this is definitely a lender question, John. Good luck!

Oct 17, 2017 05:33 AM

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Anthony Acosta - ALLAT...

Atlanta, GA
John Meussner

Fair Oaks, CA
Mary Yonkers

Erie, PA

Rainmaker
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Valeria Mola

SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL

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I don't know

Sep 23, 2018 02:47 PM

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Evelina Tsigelnitskaya

Sunny Isles Beach, FL
Valeria Mola

Sunny Isles Beach, FL

Rainmaker
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Evelina Tsigelnitskaya

SIB Realty - Sunny Isles Beach, FL

No idea.

Sep 23, 2018 02:46 PM

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Valeria Mola

Sunny Isles Beach, FL
Evelina Tsigelnitskaya

Sunny Isles Beach, FL

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John Meussner

Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA

#MortgageMadeEasy Fair Oaks, CA 484-680-4852

You have to meet FHA requirements, but yes, on the surface, this is doable. If you need some help and/or guidance feel free to reach out at 949-247-7530. I'm licensed in NJ if that's where the property is, along with several other states.

Directly from the HUD sellers guide:

"A Chapter 13 bankruptcy does not disqualify a Borrower from obtaining an FHA-insured Mortgage, if at the time of case number assignment at least 12 months of the pay-out period under the bankruptcy has elapsed."

Oct 17, 2017 10:53 AM

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Tony and Suzanne Marri...

Scottsdale, AZ
Michael Jacobs

Pasadena, CA

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Ryan Huggins - Thousand Oaks, CA

https://HugginsHomes.com - Thousand Oaks, CA

Residential Real Estate and Investment Properties

I second a call with John Meussner. I'm not licensed to provide that kind of info, but he is.

Oct 17, 2017 09:34 AM

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Michael Jacobs

Pasadena, CA
John Meussner

Fair Oaks, CA

Rainmaker
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Michael Setunsky

Woodbridge, VA

Your Commercial Real Estate Link to Northern VA

John Everett JoAnn Moore has your answer.

Oct 17, 2017 07:03 AM

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JoAnn Moore

Georgetown, DE
Mary Yonkers

Erie, PA

Rainmaker
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Jennifer Mackay

Counts Real Estate Group, Inc. - Panama City, FL

Your Bay County Florida Realtor 850.774.6582

Michael Jacobs has a good recommendation

Oct 17, 2017 05:04 PM

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Michael Jacobs

Pasadena, CA

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Anthony Acosta - ALLATLANTAcondos.com

Harry Norman, REALTORS® - Atlanta, GA

Associate Broker

Great question for a lender.

Oct 17, 2017 11:16 AM

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Anthony Acosta - ALLAT...

Atlanta, GA

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Kathleen Daniels, Probate & Trust Specialist

KD Realty - 408.972.1822 - San Jose, CA

Probate Real Estate Services

Make CERTAIN the lender you speak with KNOWS FHA. I strongly recommend that you call Tom Parke, Mason-McDuffie Mortgage.

(415) 828-5004 Tom can do loans in all 50 states.

Oct 17, 2017 07:24 AM

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1

Lyn Sims

Schaumburg, IL

Rainmaker
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Mary Yonkers

Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA

Erie/PA Real Estate Instructor

Kudos, JoAnn Moore for providing your answer. If you are not already following her blog, now is the time.

Oct 17, 2017 07:13 AM

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JoAnn Moore

Georgetown, DE

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Fred Griffin Florida Real Estate

Fred Griffin Real Estate - Tallahassee, FL

Licensed Florida Real Estate Broker

Reading the answers.

Oct 17, 2017 07:03 AM

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1

Mary Yonkers

Erie, PA

Rainmaker
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Roy Kelley

Retired - Gaithersburg, MD

Discuss this with your trusted local mortgage loan officer.

Oct 17, 2017 06:39 AM

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1

Mary Yonkers

Erie, PA

Rainmaker
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Richie Alan Naggar

people first...then business Ran Right Realty - Riverside, CA

agent & author

This is a meaty question

Oct 17, 2017 06:01 AM

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Mary Yonkers

Erie, PA

Rainmaker
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Barbara Todaro

RE/MAX Executive Realty - Happily Retired - Franklin, MA

Previously Affiliated with The Todaro Team

I'm sure you'll get the answer here ... there are many mortgage officers here..

Oct 17, 2017 05:36 AM

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Anthony Acosta - ALLAT...

Atlanta, GA

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Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

I suggest you speak with a lender.

Oct 17, 2017 05:36 AM

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Mary Yonkers

Erie, PA

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Praful Thakkar

LAER Realty Partners - Burlington, MA

Metro Boston Homes For Sale

Good Luck, John.

Jun 13, 2018 06:58 PM

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Rainmaker
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Nathan Gesner

American West Realty and Management - Cody, WY

Broker / Property Manager

Michael already provided the best answer. Good luck!

Oct 18, 2017 05:04 AM

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Rainmaker
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Tony and Suzanne Marriott, Associate Brokers

Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ

Haven Express @ Keller Williams Arizona Realty

John Meussner nailed this one!

Oct 18, 2017 04:28 AM

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Rainmaker
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William Feela

WHISPERING PINES REALTY - North Branch, MN

Realtor, Whispering Pines Realty 651-674-5999 No.

I think speaking with a lender with this is your best bet

Oct 17, 2017 06:47 PM

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Bob Crane

Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI

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Good to see you have a lenders opinion already.

Oct 17, 2017 06:12 PM

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Rainmaker
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Debbie Reynolds, C21 Platinum Properties

Platinum Properties- (931)771-9070 - Clarksville, TN

The Dedicated Clarksville TN Realtor-(931)320-6730

I am not a lender and the rules are a moving target but seems the last I asked about a similar situation was the repayment of Chapter 13 had to be 2/3 completed with on time payments and new good credit lines had to be established.

Oct 17, 2017 05:34 PM

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Rainmaker
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Sandy Padula & Norm Padula, JD, GRI

HomeSmart Realty West & Florida Realty Investments - , CA

Presence, Persistence & Perseverance

Looks like you got a straight answer from John Meussner . Good luck!

Oct 17, 2017 04:02 PM

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Rainmaker
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Joe Pryor

The Virtual Real Estate Team - Oklahoma City, OK

REALTOR® - Oklahoma Investment Properties

Talk to a lender and an attorney.

Oct 17, 2017 03:15 PM

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Rainer
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Caroline Gerardo

Licensed in 20 states - Newport Beach, CA

C. G. Barbeau the Loan Lady nmls 324982

FHA you must be 1 year lapsed after the payout. I have 3 lenders who will offer a loan. Rate is not low

Oct 17, 2017 12:22 PM

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Rainmaker
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Gita Bantwal

RE/MAX Centre Realtors - Warwick, PA

REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No idea.

Oct 17, 2017 08:35 AM

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Rainmaker
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Sheri Sperry - MCNE®

Coldwell Banker Realty - Sedona, AZ

(928) 274-7355 ~ YOUR Solutions REALTOR®

It appears the sun may be rising for you based on JoAnn Moore 's answer! Good luck!

Oct 17, 2017 08:25 AM

Upvote

Rainmaker
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Gabe Sanders

Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL

Stuart Florida Real Estate

I don't know.

Oct 17, 2017 08:01 AM

Upvote

Rainmaker
1,153,794

Kevin J. May

Florida Supreme Realty - Hobe Sound, FL

Serving the Treasure & Paradise Coasts of Florida

You've met and successfully leaped the initial hurdles. It's time to speak with a trusted and knowledgeable lender. I don't believe an FHA mortgage will be an issue.

Oct 17, 2017 07:46 AM

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John -- it looks like you are in New Jersey, I suggest chatting with John Meussner who is licensed in your state.
Chapter 13- (FHA) 1 year of the pay out period must have elapsed and payments made on time. Borrowers must receive permission from the courts to enter into a mortgage.
You have to meet FHA requirements, but yes, on the surface, this is doable. If you need some help and/or guidance feel free to reach out at 949-247-7530. I'm licensed in NJ if that's where the property is, along with several other states.

Directly from the HUD sellers guide:

"A Chapter 13 bankruptcy does not disqualify a Borrower from obtaining an FHA-insured Mortgage, if at the time of case number assignment at least 12 months of the pay-out period under the bankruptcy has elapsed."
I second a call with John Meussner. I'm not licensed to provide that kind of info, but he is.
Make CERTAIN the lender you speak with KNOWS FHA. I strongly recommend that you call Tom Parke, Mason-McDuffie Mortgage.

(415) 828-5004 Tom can do loans in all 50 states.
Kudos, JoAnn Moore for providing your answer. If you are not already following her blog, now is the time.
I'm sure you'll get the answer here ... there are many mortgage officers here..
I am not a lender and the rules are a moving target but seems the last I asked about a similar situation was the repayment of Chapter 13 had to be 2/3 completed with on time payments and new good credit lines had to be established.
Looks like you got a straight answer from John Meussner . Good luck!
FHA you must be 1 year lapsed after the payout. I have 3 lenders who will offer a loan. Rate is not low
It appears the sun may be rising for you based on JoAnn Moore 's answer! Good luck!
You've met and successfully leaped the initial hurdles. It's time to speak with a trusted and knowledgeable lender. I don't believe an FHA mortgage will be an issue.