Ronald Joseph Lundquist’s Answers

Ronald Joseph Lundquist

Eagan Bankruptcy Attorney.

Contributor Level 6
  1. We did bankruptcy(surrendered our house)& discharged 2 years ago. The house is in our name. How long do we wait to buy again?

    Answered about 1 year ago.

    1. Michael J Corbin
    2. Ronald Joseph Lundquist
    3. Tricia Dwyer
    4. Paul Elliot Ross
    5. Shaye Larkin
    6. ···
    7 lawyer answers

    Mortgage lenders have told me that from 2-5 years after your bankruptcy is discharged is when you are most eligible for new financing. Lenders will look at several critical factors in deciding whether to extend credit. Some of these factors include: 1. To what extent has your credit been rebuilt after your bankruptcy? 2. What is your current debt to income ratio? 3. How much of a down payment can you bring to the table? 4. Do you have a co-signer? My website has a link to a PDF I have...

    4 lawyers agreed with this answer

  2. What should I do with my debt situation and summary for judgement?

    Answered about 2 years ago.

    1. Jeremy Judson Cobb
    2. Sara Marie Grant Rojas
    3. Andrew Thompson
    4. Ronald Joseph Lundquist
    5. Dorothy G Bunce
    5 lawyer answers

    The description of your situation raises several issues not easily addressed in this format. For example paying for your mother's schooling could cause an issue in a Chapter 7 case should a trustee consider this a preference or a fraudulent conveyance. I would also like to note that I saw a comment from another attorney that because you were under median income that you are qualified to file for Chapter 7. That is not true. Under median income itself is just one factor to consider in making...

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