Buy a Home Two Years After Bankruptcy
After filing bankruptcy obtaining an unsecured credit card may prove a bit difficult during your first year after bankruptcy, there are other options to help you get a card. It’s a good idea to get a secured card as soon as you can after your bankruptcy is discharged – you’ll have to pre-pay the card – but it will help you improve your credit score. Getting a secured card also frees you from having to use cash to pay bills. It’s also possible to buy a home just two years after Bankruptcy, as long as you make all of your debt payments on time after the discharge. You will probably pay a slightly higher interest rate than a buyer with a clean credit history, but you may be able to refinance at a lower rate after you have been in the home for two years.
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