Author Name: Skinner Law

One of the many myths out there about bankruptcy is that someone who files bankruptcy will never be able to buy a house. This is not true!

The current mortgage underwriting rules (which set forth the criteria for allowing a lender to approve a mortgage loan) allow a person to qualify for a mortgage two years after they file a Chapter 7 bankruptcy or after they’ve made twelve payments to the trustee in a Chapter 13 bankruptcy. That’s right, while you are in an active Chapter 13 case, you can purchase a house. There are hoops you must jump through, but it is possible!

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When you file bankruptcy, there are exemptions that help protect your property, which means if the property is exempt, you will be able to keep that property. If the property is non-exempt, that property could be liquidated for the benefit of your creditors. The exemption statutes in Kansas and Missouri are wildly different and complex and if you are contemplating filing bankruptcy, you should seek the advice of an experienced bankruptcy attorney.

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Hundreds of thousands of Americans have lost their lives to the COVID-19 virus. Even more have suffered significant financial consequences; they have lost their jobs or businesses and many others have seen their income significantly reduced. If you’re reading this, there’s a good chance you are suffering financially due to the virus.

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  • Meet Nancy Skinner

    Nancy Skinner graduated from the University of Kansas School of Law in 2009. She also earned a Masters in Business Administration from the University of Kansas School of Business in 2009. Nancy’s main priority is to assist clients through the bankruptcy process and on to a fresh start. Nancy is admitted to practice in Kansas and Missouri. Learn more.

    Nancy's Educational Background Includes:
    - Juris Doctor: University of Kansas
    - M.B.A.: University of Kansas
    - Bachelor of Arts Psychology: California State University at Northridge