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Really the way to look at this
question is when could one purchase a home if one were to remain in their
current financial situation. The answer for most is never. Typically a Chapter 7 Bankruptcy will relieve you of all
debts which are dischargeable. Normally
a mortgage lender would prefer a person who is debt free as compared to a person
who is financially over burdened with numerous debts competing for his stream of
income.
Basically – a consumer will have
anywhere from a 6 month to a two year wait after receiving a discharge before the lending institute will
consider one for either refinancing or purchasing a new home.
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