{"id":174,"date":"2009-11-21T14:03:57","date_gmt":"2009-11-21T20:03:57","guid":{"rendered":"https:\/\/kevinkgipson.com\/?p=174"},"modified":"2009-11-21T16:50:37","modified_gmt":"2009-11-21T22:50:37","slug":"myth-no-8-you-can-never-own-a-home-if-you-have-for-bankruptcy","status":"publish","type":"post","link":"https:\/\/kevinkgipson.com\/?p=174","title":{"rendered":"Myth No. 8: You Can Never Own A Home If You Have Filed For Bankruptcy"},"content":{"rendered":"

You can never own a home if you have filed for Bankruptcy.<\/p>\n

False.<\/p>\n

To the\u00a0 contrary, assuming that you otherwise qualify, (Have a\u00a0down payment, closing costs, a job, etc.) it is likely that you would be able to purchase a house within one to two years of filing a bankruptcy.<\/p>\n

There are\u00a0two very practical reason why a creditor would lend to a person who has filed for bankruptcy:<\/p>\n

    \n
  1. The borrower has gotten rid of all of his unsecured debt by filing bankruptcy.\u00a0 As a result, the borrower has a better ability to pay a mortgage; and,<\/li>\n
  2. If the borrower can’t make the monthly payments on the house note, the borrower has limited options:\u00a0 The borrower\u00a0can’t discharge the mortgage in a Chapter 7 bankruptcy for a period of 8 years.\u00a0 Instead, the best they could do is file a Chapter 13 bankruptcy to restructure the debt through a Chapter 13 Plan.<\/li>\n<\/ol>\n

    Don’t believe myths:\u00a0 Contact an experienced bankruptcy attorney to get the facts.<\/p>\n","protected":false},"excerpt":{"rendered":"

    You can never own a home if you have filed for Bankruptcy. False. To the\u00a0 contrary, assuming that you otherwise qualify, (Have a\u00a0down payment, closing costs, a job, etc.) it is likely that you would be able to purchase a … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[181,17,69,46,20,64,65],"class_list":["post-174","post","type-post","status-publish","format-standard","hentry","category-bankrputcy","tag-bankrputcy","tag-chapter-13","tag-chapter-13-plan","tag-chapter-7","tag-mortgage","tag-new-orleans-bankruptcy-attorney","tag-new-orleans-bankruptcy-lawyer"],"_links":{"self":[{"href":"https:\/\/kevinkgipson.com\/index.php?rest_route=\/wp\/v2\/posts\/174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kevinkgipson.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kevinkgipson.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kevinkgipson.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kevinkgipson.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=174"}],"version-history":[{"count":5,"href":"https:\/\/kevinkgipson.com\/index.php?rest_route=\/wp\/v2\/posts\/174\/revisions"}],"predecessor-version":[{"id":178,"href":"https:\/\/kevinkgipson.com\/index.php?rest_route=\/wp\/v2\/posts\/174\/revisions\/178"}],"wp:attachment":[{"href":"https:\/\/kevinkgipson.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kevinkgipson.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kevinkgipson.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}