This is a very common concern. Although there is no law requiring banks to give you a loan within a certain period of time, let me tell you about an experience from last week.
A client whom I filed only 16 months ago called me from a mortgage loan bank branch asking me for another copy of her Chapter 7 Order of Discharge (she had misplaced it). “No problem,” I said. She explained that she was approved for a mortgage and simply needed to provide the paperwork. I faxed over the papers to Wells Fargo immediately and she was approved right then and there.
Her dream was coming true; she was getting her first house. This example shows that private banks are willing to assist with mortgage loans even within 2 years of filing for bankruptcy. Banks are concerned with seeing that new clients have a steady future income and the fact that she filed Chapter 7 bankrutpcy in the past makes her a more attractive customer as she has fewer obligations remaining. Congratulations KS. –Fall 2013
5148 Peach Street, Suite 330
Erie, PA 16509
847 N. Main Street, Suite 003B
Meadville, PA 16335
4981 McKnight Road #101548
Pittsburgh, PA 15237