If you have had to file for bankruptcy and your home was part of the filing, is it possible to buy your home back? Yes it is and maybe sooner than you might think. There has been a lot of information that it can take 10 years or so to build back up enough credit in order to buy your home back, but this isn’t usually the case. There are times you can buy back your home in as little as 2 years.

First you will have to pay off your debts from your chapter 13 filing. You will not be allowed to buy another home without paying them off since the courts will have given judgements on it.

You will need to begin to rebuild your credit after bankruptcy. You could try to get a secured credit card or pre-paid credit card. You deposit a certain amount of funds into a bank account and are able to use those funds to pay for purchases. This is a good way to build back credit when other credit card companies won’t give you a chance.

You will need to find out the status of the property you wish to buy back. If you stopped making payments on the property after bankruptcy, its likely foreclosure has started. The mortgage will have reverted back to the lender and you will have to find out what judgement was made on the home. If the house hasn’t been auctioned off by the lender, you can negotiate with them to buy it back.

It is a good idea to build up a down payment before buying a home. This shows the lender you are serious and willing to do what it takes to own this home. Contact the lender and let them know how much you are able to put down and this could make it easier to gain a mortgage.

You will need to prove you are now in good financial standing. You will have to show you have a good stable income and be able to meet the requirements of the payments.

While bankruptcy can make getting your life back to normal harder, it’s not impossible to still be a homeowner over time.