August 7th, 2008 by Questions
I will not be discharged from bankruptcy until Feruary 2009. Is it possible to get a mortgage loan while not discharged? If so how hard will it be?
Posted from: Newfoundland and Labrador
August 08, 2008 at 6:17 am, A licensed trustee said:
There is no law prohibiting you from applying for a mortgage (or other credit) during your bankruptcy – you are simply required to disclose that you remain an undischarged bankrupt.
That being said, it is highly unlikely any reputable lender will approve you for a loan (or mortgage) on your own during your bankruptcy. If you have a qualified co-borrower or co-signer it may be possible, but they will get a lower interest rate if you are not included on the application.
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