Notice: Due to COVID-19, we will be conducting all consultations via Zoom and telephone. We are open and here to help people in these trying times.
Please don’t hesitate to call us if you have any questions!
Bach Is Your Financial Future.
555 Skokie Blvd Suite 250, Northbrook, IL 60062
PO Box 1285, Northbrook, IL 60062
Contact Us Today!(847) 440-5998
At Bach Law Offices, Inc., we understand that at some of our clients will want to purchase a home again after their bankruptcy is complete. But before you start looking for a new home, you should first make sure that several things are in place.
The first thing you need to do is make sure you have enough money in your savings, including at least $1,000 saved up for emergencies and additional funds to cover four to six months of all of your household expenses.
Secondly, you will want to put down a substantial down payment so that you don’t get hit with a Private Mortgage Insurance charge because your payment is too small.
The third thing you need to know before you buy a new home is whether you can realistically afford to keep up with your mortgage payments. This means you need to calculate your immediate and future earnings, expenses, and other financial details.
If you are thinking of buying a new home after you filed for bankruptcy, stay within the following parameters: