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I would like to know if we can refinance our VA home loan. We were discharged from chapt 7 in april of this yr. Our mortgage was just bought out by a company we really dont like dealing with and would like to find another lender. Our rate is 6.5 and i wonder if we can find one, will the rate go up or down? Everything has been kept up to date with all of our bills and with the last lender. Things got a little confusing during the transition from one to the other as we had no idea we had been bought out. Any help would be appreciated. We are in NC.

Niicss · Posted: Thu Nov 12, 2009 2:05 am Post subject:

You've mentioned that you're up to date with all your payments and bills. In that case, you can apply for a refinance with other lenders and check out their opinion. However, you would get a refinance only if you've reaffirmed the debts with your original lender. You can even seek a no obligation free mortgage consultation from the lenders of this community in order to know whether or not you would get a loan.

raymond · Posted: Sun Nov 29, 2009 10:05 am Post subject:

>> would like to know if we can refinance our VA home loan.

No, it's too soon. VA uses the same guidelines as FHA in this area, and you'll have to wait 24 months from date of discharge, and you can't have any lates on anything during that timeframe.

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