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A mortgage is possible after filing for bankruptcy

The loss of a job, a medical crisis or just mounting debt can often make one feel as if all hope is lost. As the bills continue to build, the Tennessee resident's hopes and dreams appear to dwindle. However, this does not have to be the case. For many, filing for bankruptcy can actually be the beginning of rebuilding one's hopes, dreams and financial picture.

One of the greatest fears associated with bankruptcy is that the individual will lose his or her home and never be able to qualify for another mortgage. First of all, as long as the individual has enough income to make mortgage payments, it may be possible for the mortgage to be reaffirmed and the home retained. Additionally, in many instances, the individual is eligible to apply for a new mortgage within a few years of the bankruptcy being discharged. The waiting period to be able to apply for an FHA mortgage is just two years while the waiting period for a conventional loan is only four years.

3 things that bankruptcy can put a stop to

When people are struggling under mounting debt, it can feel like the stress, anxiety and financial strain will never end. Add to that the non-stop calls from creditors and the penalties that continue to pile up every month, and it is no surprise that people often feel like getting any relief is impossible.

However, you do not have to resign yourself to being in debt. You can explore debt relief options that put a stop to your current financial challenges and help you make a fresh financial start. Filing for Chapter 7 bankruptcy is one such option, and it can put an end to a few of the most painful elements of debt.

Talk to your teen about the various types of distracted driving

You know that driving is a risky behavior. You’ve seen it. The car that speeds up and slows down. The one that swerves in and out of the lane. The one that follows too closely behind you. It’s why you worry about your teenager who is now behind the wheel alone.

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