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Icon Mini Profile gillb786





Joined: 17 Feb 2010

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Post Posted: Mon Feb 22, 2010 10:31 am    Post subject: FHA
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One quick question for everyone in the forum.

Can one get approved for refinance for a FHA loan after bankruptcy?

Is there any special rules.....
Icon Mini Profile Niicss
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Post Posted: Tue Feb 23, 2010 1:56 am    Post subject:
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It won't be possible for you to refinance your home loan just after a bankruptcy. If you had filed Chapter 13, then you will have to wait for a year to get a FHA refinance and if you filed Chapter 7, then you need to wait for 2 years.
Icon Mini Profile tfaulhaber1
tfaulhaber1
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Post Posted: Wed Feb 24, 2010 5:42 am    Post subject:
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Chapter 7, two years after discharge. You would have to reestablish good credit or not incur new credit obligations. Chapter 13, doesn't disqualify you from obtaining a FHA loan as long as 1 year of the payout period under the BK has elapsed and borrowers payment performance has been satisfactory.
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