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Is it possible to refinance after bankruptcy?

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jameshogg Joined: 20 Dec 2005 Posts: 10164 Location: Nevada 944.24 Dollars($)	Posted: Thu Nov 12, 2009 8:54 pm    Post subject: Like 0 Dislike 0 Hi Judy, Getting a mortgage would depend upon your credit score. So, what's your credit score like? Did you take steps to improve your credit score after bankruptcy? You should remember that you would get a conventional loan once you have a score of 720-740. Thanks
ROSIE Guest	Posted: Mon Dec 07, 2009 3:17 pm    Post subject: REFINANCE YES OR NO Like 0 Dislike 0 I have a 30 year mortgage and still have 18 years to go. I filed chapter 7 almost 9 years ago. Should I wait to refinance until next year. I have a joint credit card and have never been late and have made large payments each month.
jameshogg Joined: 20 Dec 2005 Posts: 10164 Location: Nevada 944.24 Dollars($)	Posted: Mon Dec 07, 2009 10:18 pm    Post subject: Like 0 Dislike 0 Hi ROSIE, You've mentioned that almost 9 years have passed since you filed bankruptcy. I guess, you've reaffirmed the loan and you are paying the dues accordingly. You do not need to wait for the next year to refinance the mortgage. You can apply for a refinance with your lender right away. I hope you have rebuild your credit after your bankruptcy was discharged. If you've a good credit score, it will help you in getting better rates while you refinance. Thanks
pam.s Guest	Posted: Sun Feb 14, 2010 12:21 pm    Post subject: getting a mortgage after chapter 7 bankruptcy Like 0 Dislike 0 we were discharged in November of 2009 from a chapter 7, was looking to see if could qualify for a mortgage or not? or is it best to keep renting for the next two years
Niicss Joined: 03 Oct 2005 Posts: 4772 Location: New Jersey 499.62 Dollars($)	Posted: Mon Feb 15, 2010 2:04 am    Post subject: Like 0 Dislike 0 You won't be able to qualify for a loan so soon. You'll have to wait for 2 years after the discharge to qualify for a FHA loan and 4 years after the discharge to qualify for a conventional loan. Thus, it is a good option to rent a property for the time being, improve your credit and financial situation and then look out for a loan.
Missy Guest	Posted: Wed Sep 08, 2010 7:10 pm    Post subject: Purchasing a house Like 0 Dislike 0 How long do you have to wait after your Chapter 7 bk has been discharged to buy a new home? I thought it was 3 years, but I am being told that the house in the bk that the deed has to be out of your name for 3 years
smithsussane Joined: 18 Sep 2008 Posts: 10045 Location: Alaska 921.83 Dollars($)	Posted: Thu Sep 09, 2010 12:56 am    Post subject: Like 0 Dislike 0 Hi Missy! Welcome to forums! After your Chapter 7 bankruptcy filing has been discharged, you'll have to wait for 4 years in order to qualify for a conventional mortgage. But I haven't heard of any such requirement that you will have to own the property for 3 years to get a mortgage. Feel free to ask if you've further queries. Sussane
Joann Guest	Posted: Thu Feb 03, 2011 12:04 pm    Post subject: Mortgage after Chapter 7 bankruptcy Like 0 Dislike 0 We are looking to buy our 1st home and our chapter 7 bankruptcy was discharged about 14 months ago. Our credit score is around 700 and we would have 20% down. Does the approval of a mortgage go off of your credit score or the actual amount of time passed. Im a little confused because some posts are stating there is no actual amount of time by law but than many are saying 2 or 4 years. Do we have any chance of getting a mortgage
jameshogg Joined: 20 Dec 2005 Posts: 10164 Location: Nevada 944.24 Dollars($)	Posted: Thu Feb 03, 2011 11:42 pm    Post subject: Like 0 Dislike 0 Hi Joann, Your query has been replied to in the given page: http://www.mortgagefit.com/postdeal/about49157.html Take a look at it. Hope it helps you. Thanks
Louise Guest	Posted: Sat Feb 12, 2011 2:12 pm    Post subject: Home Owners Assoc. Like 0 Dislike 0 I have fallen behind on my homeowners association dues and with the lawyer fees attached, I owe $6,000. I was to pay $400 a month but was not able to keep up. Would filing bankruptcy stop the lawsuit?
adonis Joined: 22 Oct 2005 Posts: 10267 Location: ALASKA 1046.07 Dollars($)	Posted: Sun Feb 13, 2011 11:47 pm    Post subject: Like 0 Dislike 0 Welcome Louise, Filing bankruptcy may help you in stopping the lawsuit. You should contact your bankruptcy attorney and take his help in this matter. _________________ Procrastination is the enemy of your financial success
aggordon2 Guest	Posted: Tue Mar 22, 2011 5:37 am    Post subject: mortgage after discharge Like 0 Dislike 0 Our chapter 7 was discharge in Nov, 2009. The other day I checked my credit report and it said that the mortgage "debt included in Chapter 7 Bankruptcy". I keep geeting statements from my mortgage company and we have been making payments since the discharge. My question is: Is the mortgage wiped out? Do we have to make the monthly payments? What happens if we stop making the payments? The credit report said there is no balance on my mortgage loan, but the statements from the mortgage company show that there is a balance. Who is right?
adonis Joined: 22 Oct 2005 Posts: 10267 Location: ALASKA 1046.07 Dollars($)	Posted: Tue Mar 22, 2011 10:49 pm    Post subject: Like 0 Dislike 0 Welcome aggordon, The mortgage won't get wiped out. If you haven't reaffirmed the loan, you won't be personally liable for paying the loan. The lender will foreclose the property in order to recover the mortgage payments. _________________ Procrastination is the enemy of your financial success

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