Can I Buy A House After Filing For Bankruptcy?

It's important to ask if you can buy a house after filing for bankruptcy. And the answer is, you absolutely can.

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Transcript

It's important to ask if you can buy a house after filing bankruptcy. And the answer is, you absolutely can.

And sometimes bankruptcy actually has the effect of increasing your credit score. Initially, it's going to drop it. But, because it's going to clear out a bunch of other debt, and over time, once you discharge debt, if you have a lot of negative credit references, heavy late fees, that kind of thing, 60, 90-day lates, those all start to drop off your credit score. Over time, the only thing that's dragging your credit score down is the bankruptcy.

And if you are taking steps to rebuild your credit, we can hook you up with a coaching program that's going to help you. If you're doing those things, you can rebuild your credit. With a lot of your other debts cleared out of the way, you can focus on just getting a mortgage. And when a lender runs your credit report, they'll see the bankruptcy, but they'll see that your credit score has come up, and they'll see that they're not competing with a lot of other debt, and that you don't have a lot of other heavy late fees.

And you absolutely can buy a house.