Wanted to buy my parents home but they're under bankruptcy ch.13 I fixed my credit and gave for the down payment and all of a sudden the bank rejected the loan because they found out that we're related... I didn't think that would be an issue if I'm doing everything they asked
I strongly recommend you seek legal advice to determine what options you might have and with an attorney that is familiar with chapter 13 cases. Unfortunately, you can't force a lender to agree to a loan. Why are you attempting to do this during the Chapter 13?
Your parents will need permission from the court if they are in Chapter 13. I strongly suggest both you and your parents consult separate counsel. A misstep by either of you may cause the Chapter 13 Trustee to take notice. If the Schedules contain untrue statements or fail to fully disclose, bad things are likely to happen.
My answers are for general information only. They are not legal advice. Answers assume California law. I am licensed in California, only. Answers...
If you are trying to do a short sale, the bank will not allow you to buy the property because you are related to the buyer. With an ordinary sale, the bank has no say in who buys the house. Because your parents are in an active chapter 13, they will require court approval for the sale.
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