June 20th, 2012

How Long After Foreclosure or Bankruptcy Can I Get a Home Loan?

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In our Credit Advice Center, we often see the question, “When can I apply for a home loan after filing for bankruptcy?” In order to answer this and other home loan questions, we’ve put together this helpful infographic (with information from iLoan). Check it out, and feel free to share it on your own blog!

When Can I Get a Home Loan? – Infographic – An infographic by the team at When Can I Get a Home Loan

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When Can I Get a Home Loan? – Infographic – An infographic by the team at Credit Karma
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  1. Thanks for sharing this! It’s something that I’ve been looking for. What is the difference between short sale and foreclosure?

    Whitney at 8:20 pm on July 2, 2012
  2. That’s a great question! We’re currently drafting up a blog post on the topic. In the meantime, check out these two posts: Should I Do A Short Sale? and Short Sales: A Short Guide.

    bethy at 11:06 am on July 3, 2012
  3. What if you home was included in the bankruptcy? Do you still have to wait three years from the foreclosure date?

    Carna Richardson at 5:10 pm on February 10, 2013
  4. Similar to the above question:
    1. If foreclosure was at the same time of the bankruptcy, is it still 3 years?

    2. How do I determine the “Completion Date” or when the 3 year period starts? I’ve heard multiple things: 3 years from the date the foreclosure closed or 3 years from the date the foreclosed property was sold. There is a big difference between when my home was foreclosed on and when the bank actually ended up selling the home after the foreclosure closed.

    Dave at 2:24 pm on February 20, 2013
  5. Jenna

    Hi Carna and Dave! I’d recommend asking your question at our . Chances are someone else in the Credit Karma community has faced the same issue you have, or has posed a similar question in our online community. If not, don’t be afraid to make your voice heard! Post your own question for others to answer.

    Jenna at 2:42 pm on February 20, 2013
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    reverse osmosis water filter aqua at 9:07 pm on March 4, 2013
  7. My home was foreclosed upon almost 3 years ago. My ex and I divorced and I couldn’t qualify on my income to refi. I tried to do a modification, but the rules required his signature and he would not sign. Fast forward, I’m remarried, our house now is paid for but we’d like to do some improvements. How do I go about getting a home equity loan? I’ve tried once, unsuccessfully, but I think it was too soon. Is 3 yrs long enough to wait for trying? My financial situation and credit score have definitely improved since the foreclosure, i’m just not sure how to get this info, and previous circumstances conveyed to a lending agent. Thank you all.

    Monica at 10:22 am on April 4, 2013
  8. We filed for chapter 7 bankruptcy and were granted discharged around April of 2011. Our house was included in the bankruptcy however the bank did not decide to sell the home at auction until March of 2013. From 2011 to 2013 the home was not lived in and the locks were changed by the lender however remained in our name until the date of the auction. I had zero access to the home and no control over when the lender decided to place the home up for auction and I am being told that I now have to wait 3 years from the auction/foreclosure date until I can qualify. That will be approx. 5 years from our discharge date. Is this correct or could my situation be an extenuating circumstance to qualify sooner?

    John at 9:05 pm on August 13, 2013
  9. Get a flexible credit loan. This program assists homeowners who have recently been through a foreclosure, short sale or have recently emerged from bankruptcy.

    Laurie Ward at 4:52 pm on April 9, 2014
  10. I have the same issue. I had a foreclosure and bank took time to turn over home. Where do I go to get a flexible loan with out putting 20-35% down. I have one year left on the foreclosure. Bankruptcy is over in June. Worried prices of homes will go up remarkably in next year. Need to buy now. Where do I go. Any names in Northern California/ Please Help!!

    Anthony at 1:40 pm on April 28, 2014
  11. I had a foreclosure last year. I own another property that needs some work. Is there anyone who might give a equity loan? I have a good paying job, but I need to consolidate some debt and make some necessary repairs.

    julie at 2:04 pm on October 7, 2014
  12. Those who are eligible may wish to contact lenders who are eligible to accept VA home loans and find out if they have specific FICO score requirements.
    As it turned out the Sub-prime mortgage loan was the most reckless kind
    of creative mortgage financing program to have been introduced to the contemporary mortgage marketplace, and
    – we now know – was responsible for an almost collapse of our financial system (a recession lasting from
    late 2007 to late 2010 resulted) and near depression. Also, since this is
    a VA loan, your Disability or Retirement statement from
    the VA will be necessary. A recent Huffington Post article detailing Neil Barofsky’s quarterly report
    to congress provides additional insight that may be helpful in determining the “truthful” answer
    to this question. In fact, a lender can select just about
    any reason that’s convenient to deny you for a loan.

    VA Construction Loans at 7:50 pm on November 29, 2014
  13. How soon after chapter 7 can I possess property? (Home)

    Doug Kay at 10:01 am on December 18, 2014
  14. Applying for an HELOC, do you still need to wait 3 years from a foreclosure as well?

    jcee at 6:38 pm on May 26, 2015
  15. Enola Guerrero

    Hi Jcee – Please check out our advice center for your questions. https://www.creditkarma.com/all/advice


    Enola Guerrero at 10:49 am on May 27, 2015
  16. If my home was foreclosed in 2011 because my self and wife became disabled and couldn’t make the monthly payments. We had a fannie may loan which it stated that it would take 7 yrs to get off my report. It stated that if you had special circumstances it can be removed in 3 yrs. The loan was with Wells Fargo. What should I do? Any suggestions?

    Steve at 7:43 pm on November 5, 2015
  17. Enola Guerrero

    Hi Steve – I suggest asking any of your financial and credit concerns in our advice center her: https://www.creditkarma.com/all/advice


    Enola Guerrero at 1:58 pm on November 6, 2015
  18. I have some debt over the past few years and have decided to file bankruptcy. What chapter would this fall under. There is no house in this just bills and hospital. Thank you.

    Kimberly at 6:57 pm on December 27, 2015
  19. Enola Guerrero

    Hi Kimberly – Since I do not know the details of the accounts you are referring to, I suggest asking any credit related questions in our advice center. creditkarma.com/advice


    Enola Guerrero at 5:35 pm on December 28, 2015

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