Pensacola, Florida – Whatever a person’s New Year’s goals and resolutions are, now is the time to dive straight into the process of achieving them. While some people have goals to lose weight, read a number of books, be more social, or spend more time with family, others have financial goals, such as buying a House. Buying land can be an exciting, yet daunting task, especially for people who have already had to file for bankruptcy. Lewis and Jurnovoy, Bankruptcy Lawyers in Pensacola, indicate that it is possible for individuals to buy a house after a bankruptcy; there are simply a few factors to consider beforehand.
The first factor to consider is the individual’s bankruptcy period. These time periods vary and can sometimes prevent a person from buying a home right away, but not forever. Another factor to consider is whether the person plans to pay cash for the home or will apply for a mortgage. If the person is able to pay cash, there is no problem doing so; anyone can deposit money on a house if they wish. However, applying for a mortgage is the most common way to buy a home, and people who have filed for bankruptcy can often do so, depending on a few factors.
According to a Forbes advisor: “Depending on the type of mortgage you qualify for, your lender, the type of bankruptcy you filed and the cause of your bankruptcy, you may have to wait one to four years after filing for bankruptcy. . You will also have to wait until your credit score has recovered enough to qualify for a mortgage.
The bottom line is that buying a home, especially after bankruptcy, isn’t always easy, but it doesn’t have to be too stressful. The key is to stay informed through reliable research and advice.
For people who need debt relief and are considering filing for bankruptcy, Lewis and Jurnovoy are here to help. They work diligently to ensure that every client goes through the bankruptcy process as smoothly and stress-free as possible. For more information about bankruptcy assistance in or around Pensacola, call Lewis and Jurnovoy at (850) 409-3350 or visit them online atwww.LewisandJurnovoy.com.
For more information about Lewis & Jurnovoy, PA Pensacola, contact the company here:
Lewis & Jurnovoy, Pennsylvania Pensacola
1100 North Palafox Street
Pensacola, Florida 32501