Securing a VA Loan After Consumer Bankruptcy
Many veterans in the Chicago area are all too familiar with the difficulty of earning a living after returning to civilian life. Numerous veterans in Illinois have filed for consumer bankruptcy and have lost their homes to foreclosure. Is it still possible to buy a home after experiencing financial setbacks? According to an article from Military.com , home ownership is not out of reach for America’s veterans who have sought bankruptcy protection. To be sure, veterans who have filed for personal bankruptcy can still count on using their VA home loan benefits. Veterans Filing for Chapter 7 or Chapter 13 Bankruptcy Making the decision to file for Chapter 7 or Chapter 13 bankruptcy is often difficult. While bankruptcy protection can be a powerful tool for veterans with insurmountable debt, it can also make it difficult to secure credit in the months afterward. Personal bankruptcy can hurt your credit score, and a low credit score can make it hard to find a mortgage lend...