Good points, though isn't there also value in considering your local market trends? Bankruptcy or not, timing matters. If prices are climbing steadily, waiting too long could cost more than just interest rates... but yeah, jumping in blindly isn't smart either.
Yeah, timing is definitely tricky. Reminds me of when my cousin declared bankruptcy a few years back. He waited around, thinking prices would dip, but our local market just kept climbing—ended up costing him way more in the long run. Still, gotta be careful jumping in too soon after bankruptcy... lenders can be pretty unforgiving. I'd say keep an eye on your area's trends, but don't let FOMO drive your decision either. It's all about balance, right?
I get your point about timing, but honestly, waiting isn't always a bad move—even if prices are climbing. After bankruptcy, your credit score takes a serious hit, and jumping back in too early can lock you into higher interest rates that cost way more long-term. Instead of worrying about market timing, I'd suggest focusing on rebuilding credit first. Spend a year or two improving your score, save up for a larger down payment, and you'll likely qualify for better loan terms. Sometimes patience pays off more than chasing the market...
Fair points, but consider this:
- Prices might rise faster than your credit improves.
- Renting longer means losing potential equity gains.
- Even with higher rates initially, refinancing later could offset that.
Waiting isn't always safer...just something else to think about.
Good points, but refinancing isn't always guaranteed...especially after bankruptcy. Have you looked into how soon lenders typically allow refinancing post-bankruptcy? Might be worth checking before counting on that option.
