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Can a bankrupt get a mortgage from the bank? - Walla! Sentence

2022-08-31T04:59:13.388Z


Taking out a mortgage after a bankruptcy proceeding is considered quite complex, but certainly possible. How do you do it correctly and what is important to know before starting the procedure?


Can a bankrupt get a mortgage from the bank?

Taking out a mortgage after a bankruptcy proceeding is considered quite complex, but certainly possible.

How do you do it correctly and what is important to know before starting the procedure?

Mortgage expert Martin Boxdorf is in order

In collaboration with legal zap

08/17/2022

Wednesday, August 17, 2022, 1:31 p.m. Updated: Thursday, August 18, 2022, 9:40 a.m.

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In the video: Can a bankrupt get a mortgage from the bank?

(edited by: Dina Mefhotz)

One of the most complex things that exists today in the financial world is taking a mortgage after a bankruptcy procedure.

But is this even possible and what are the criteria for getting a mortgage for those who are refused?

Martin Boxdorf arrived at the studio and Walla!

to sort out the issue.



Can a bankrupt even take out a mortgage?



"The short answer is yes," says Martin Boxdorf.

"The first thing to talk about is the concept of bankrupt. Let's say we are the bank, and a person comes to us who says he went bankrupt a year or two ago. What do we want to see in that person in order for us to approve a mortgage? The first thing is a transformation - if the person had a certain business and Bankrupt, we want to see that the same person didn't open the same business again, because it doesn't make sense. Banks usually prefer a person who had a business, just went bankrupt and started being an employee."



Is it possible to contact another bank to get a mortgage or is there no point at all?



A credit data report is a personal report that is issued to everyone, showing data of everything that has happened in recent years - whether checks have returned, standing orders, execution, digests, etc.

"Every bank I turn to to get a mortgage after bankruptcy automatically issues this report.

That means all banks are exposed to the same data," notes Martin Boxdorf.

Are there certain criteria for obtaining a mortgage in case of bankruptcy?



On this, Martin Boxdorf said: "The banks want to see a change, as I mentioned, and basic proper conduct - that the salary is deposited into the account in an orderly manner, that there is a bank account in my name and, by and large, orderly conduct like that of any ordinary person in the world."



What is a financial shelter?



There is a concept called financial shelter, which means that people who go through a bankruptcy procedure, especially a long one, get used to dealing with cash.

As soon as you proceed in this manner, there will be no data in the credit data report, which may turn on a red light at the banks. "The most important thing is to build reasonable banking practices," notes Martin Boxdorf.



Why should you consult a mortgage advisor in these cases?



Martin Boxdorf concluded: "It is very difficult to resolve the issue with a banker, it doesn't work.

All the systems today at the Bank of Israel are such that it is almost impossible to do anything without representation, of course in cases of bankruptcy.



Martin Boxdorf is a mortgage expert for the rejected.

For Martin's economic podcast.



More details on Martin Boxdorf's website and by phone

- 053-9382060



to the office page on the legal website of the



article courtesy of Zap Legal



The information presented in the article does not constitute legal advice or a substitute for it and does not constitute a recommendation for taking procedures or avoiding procedures.

Anyone relying on the information in the article does so at their own risk

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Source: walla

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