If you file bankruptcy a second time after a few years and can you still get a mortgage loan?

There is a possibility for you to get the second mortgage but even to get a car loan without 20% down it will be difficult. And it will be more difficult to get a mortgage because your credit will be non existent. You will be too high of a risk to be a candidate for a mortgage or loan.

So it won’t matter what kind of hardship a person has, you will still liable for your bills. After your first bankruptcy, yes, you can get financing. But at bankruptcy #2, then you will have to have a co-signer, or co-borrower (name is 1st on loan) and that is who will be responsible to make the payment each month.

And finance charge tacked on each monthly payment will be like 50 % of interest rate, or more. Also you cannot put title in that person’s name-because they are a high risk. Also, you must catch up/double up on outstanding bills and re-apply in 12-15 months to see if credit score has changed.

Moreover, you can remove the bankruptcy well before it is supposed to fall of. Once the bankruptcy has been discharged; it goes to the Federal Archives. When you dispute it, the bureau must investigate it within 30 days. It typically takes longer then 30 days to dip into the archives and re-verify and it is easy to remove.

Remember one thing here, bankruptcy may be able to help you discharge or repay some debts, however; there are some debts that cannot be erased. Under Federal and State Law, certain assets you own outright are protected during a bankruptcy called “exempt” assets which means they do not need to be sold during the bankruptcy process.

Your exempt assets may include all or part of the value of your home that you own outright (your home equity). Your creditors cannot demand that exempt assets that you own outright be sold to pay your debts. Any part of your home you own outright, your home equity; is protected to varying degrees by federal and state law. So call up your attorney and find out the laws in your state.


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