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19 - Sep
'
(Nearby Event: Business)
Where:Maximum One Realty Partners, 313 Jonesboro Road, McDonough, Georgia, United States, 30253
Cathy McDaniel                  "Getting a Mortgage after a Bankruptcy"   Bankruptcy is a federal government program available to a person or other entity who cannot repay debts to creditors based on a financial hardship.  There are two types of bankruptcy for individuals-the discharge of debts and the payment plan. Chapter 7 of the Bankruptcy Code is for the discharge of debts, which is the traditional bankruptcy.  Chapter 13 is a reorganization bankruptcy designed for debtors with regular income who have enough left over each month to pay back at least a portion of their debts through a repayment plan.   Chapter 11 provides for reorganization, usually involving a corporation or partnership. A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in chapter 11.   Qualifying for a mortgage after a bankruptcy requires a waiting period, re-established credit and standard program underwriting guidelines. Let's talk about FHA, VA, USDA, Fannie Mae and Freddie Mac mortgage requirements.  Sponsor:    Jan Townley | [email protected]                    My CE Class LLC #5914 | 3 Hour In class Continuing Education Course                
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