There is no doubt that filing chapter 13 bankruptcy will effect your mortgage, but the question is what will it do? When you file, it will remain on your credit report for up to ten years. During that time, every time that you apply for any credit, from a home mortgage to a car loan to a simple credit card, the lender will see this on your credit report and will then need to decide if in fact they should give you credit. In many cases, the answer will be no. When it comes to purchasing a home, this large commitment may be that much harder to get.

Options For Individuals

But, there are options for many people who are in chapter 13 bankruptcy or have found themselves with the ability to pay for a mortgage but have this black mark on their credit history. Buying home when you are in this situation will be tricky. Here are some tips to help you through.