Do you need a mortgage?
One of the most important things to consider is that declaring bankruptcy will make it almost impossible to get a mortgage if you don’t already have one. While there are specific mortgage lenders that deal with at-risk clients and those that have declared bankruptcy, your options will be few and far between. Additionally, you can only file Chapter 7 bankruptcy once every six years, so if another major financial hardship occurs before the allotted time period your options are limited you are stuck. It would be still possible to file a Chapter 13 Bankruptcy, if you qualify.
