Gustan Cho Associates's video: Chapter 13 Bankruptcy

1. Can I qualify for an FHA loan under a Chapter 13 bankruptcy payment plan? * FHA and VA loans are the only two mortgage programs that allow borrowers to qualify for a home mortgage under a Chapter 13 repayment plan in the event of bankruptcy. - Under Chapter 13, bankruptcy does not have to be closed It must be manual insurance - FHA and VA loans are the only two mortgage programs that allow manual insurance - The difference between manual and automatic underwriting is the reduction of the debt to income ratio and the mortgage underwriter has to manually back up the file - In line with the manual HUD guaranty guidelines, timely payments are required in the last 24 months - Timely payments are required throughout the repayment plan Borrowers must meet all minimum HUD Mortgage Guidelines - The consent of the trustee is required - Many home buyers are upset that the bankruptcy trustee signs a new home purchase during a Chapter 13 bankruptcy - Gustan Cho Associates team has helped thousands of home buyers close their homes under a Chapter 13 Repayment Plan in Bankruptcy - We have never had a trustee who has not signed a home purchase and/or mortgage refinancing agreement while we are following a Chapter 13 bankruptcy payment plan * A large proportion of our clients at Gustan Cho Associates are those who plan to buy a home during the repayment period under Chapter 13. Chapter 13 Bankruptcy does not have to be closed. Read more https://gustancho.com/using-fha-loans-during-chapter-13-bankruptcy * You want to know more, contact The Gustan Cho Team at 262-716-8151 or send a text message for a faster response. Or write to us at gcho@loancabin.com. We are available 7 days a week, in the evening, on weekends and holidays. * CHECK IF YOU QUALIFY: www.gustancho.com/fast-quote ***** Follow me ***** on Social Media 1. https://www.facebook.com/TheGustanChoTeam/ 2. https://www.facebook.com/alexcarlucciMortgage/ 3. https://www.instagram.com/gustanchoas... Be sure to subscribe for more: https://www.youtube.com/c/GustanChoAssociates ALEX CARLUCCI - SVP Mortgage Banker, NMLS # 229891 ALEX STATE LICENSES: - Alabama - Colorado - 100511536 - Florida - LO40799 - Illinois - 031.0026265 - Indiana - 38913 - Michigan - 229891 - Mississippi - Pennsylvania - 72654 - Tennessee - 200345 COMPANY ALL-STATE LICENSES: - Alabama - California - Colorado - Florida - Georgia - Illinois - Indiana - Michigan - New Jersey - Pennsylvania - Tennessee - Texas - Ohio All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Loan Cabin, Inc. and GCA does not guarantee the quality, accuracy, completeness, or timeliness of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error-free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Loan Cabin, Inc.. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action. chapter 13, bankruptcy, chapter 13 bankruptcy