April 27th, 2009 by Questions
can I purchase a house after just been discharged from bankruptsy two years ago
Posted from: Ontario
April 27, 2009 at 8:17 am, A licensed trustee said:
Legally there’s no reason why you can’t buy a house. Practically speaking, it will depend on how much of a down payment you’ve saved and your employment stability, among other things.
Here’s a tip: you will likely be charged a higher rate of interest due to your bankruptcy. The lender will suggest you lock in for 3 or even 5 years. Instead, ask for one year. When the year is up if you haven’t had any payment problems you should qualify for a better interest rate.
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