Explore the Mortgage101 Library
Check Local Mortgage Rates
Loan Program Choices
Use our calculator to find out your estimated monthly payment in advance: Enter the loan amount, interest rate, and length of mortgage.
Try our Mortgage Payment Calculator
A bankruptcy discharge is granted by the bankruptcy court in order to release the filer from certain debt responsibility. There are some types of debt that will not be discharged by filing bankruptcy. Once you receive the discharge documents, before you decide to apply for any new credit you should get a full accounting of all the debt you are still obligated to pay.
Bankruptcy Discharge Date
If you filed for bankruptcy, once the court sends you the discharge documents you may often be able to re-establish your credit. Many lenders will not approve you for credit until your bankruptcy has officially been discharged. If you have been denied credit by a lender, once your discharge has been ordered by the court you can then contact the lender again to see if they will now approve your application.
Debts Not Discharged
Depending on the type of bankruptcy that you filed, certain debts are not discharged. These can include taxes, student loans, and alimony or child support obligations. Check with your attorney to find out what debts you are still responsible for paying. Budget accordingly, in order to be able to make all payments in a timely manner.
- What To Do When Mortgages Default
- 3 Factors that Can Negatively Affect Your Mortgage Application
- Low Down Payment Loan Qualification
- What Lenders Don't Reveal About Home Equity Loans
- FHA Eligibility with Bankruptcy and Foreclosure
- 3 Common Short Sale Mistakes
- FHA Loans for a First-Time Home Buyer
- Should You Refinance? Make Sure the Timing is Right
- How to Get Approved for an FHA Loan despite Bad Credit