Did you know you can buy a home while you are in a Chapter 13 bankruptcy.

If you declared chapter 13 bankruptcy you only need to wait 1 year from the date of filing to buy a home. You need to have made 12 payments to the trustee. It is very important to rebuild your credit with 3 secured credit cards right after your bankruptcy has been filed.  You will need 3 tradelines of credit to qualify. One of the tradelines will be payments made to the trustee, the other two tradelines can be anything on your credit report that was not included in the bankruptcy. We can also use your rent, utility bills, insurance or any other payment you make each month for at least 12 months.

Your credit has to be good since the bankruptcy. You cannot have any lates on housing history or installment loans (auto loans etc..). The min credit score needed for this program is 580 if you want to put down 3.5%. If you have more to put down you could go as low as 500 credit score. Barclay Butler Financial Inc. is currently doing these loans. Please contact me with any questions. Barclay Butler 224-420-9990 or email me bbutler@barclaybutlerfinancial.com.