Home arrow Mortgage Forums arrow Looking for Mortgage again arrow

refinance after bankrupcty discharge one year

Author Message
mike tullis

Guest







Post Posted: Tue Apr 28, 2009 9:25 pm    Post subject: refinance after bankrupcty discharge one year
Like 0
Dislike 0

If I cant re finance my home i have to sell it .My wife and i are getting a divorce and i must refinance to buy her equity.br discharge one yr old. Crying or Very sad Crying or Very sad Crying or Very sad
_________________
Need help choosing the right loan? Get free consultation from community lenders/consultant
Icon Mini Profile smckaybiz
s.mckaybiz
Community Expert
Community Expert



Joined: 24 Apr 2008

Posts: 195
Location: PA
10.64 Dollars($)
Post Posted: Wed Apr 29, 2009 2:37 am    Post subject:
Like 0
Dislike 0

Hello Mike,

In most cases you will have to wait atleast two years or more before being accepted for any kind of mortgage or equity loan to refi your home.

Just try to explain to her, if you are forced to sell the house now chances are that you won't be able to get nearly as much money for it as you would've two or three years ago.

But it may not be the bankruptcy at all that's holding you back from being approved. Would you mind sharing what kind of credit score you currently have?

_________________
Scott McKay
FreeOnlineCreditGuide.com
Icon Mini Profile sara
sara
Moderator



Joined: 05 Jul 2006

Posts: 2645
Location: New Brunswick, New Jersey
488.43 Dollars($)
Post Posted: Wed Apr 29, 2009 2:40 am    Post subject:
Like 0
Dislike 0

Hi mike,

As your bankruptcy discharge is one year old, you can apply for a refinance. There are chances that you'll be able to refinance the mortgage in your name.

You haven't mentioned your credit score. While refinancing the loan, the lender will check your credit score and income. So if you have taken steps to improve your credit score, I don't think you'll face issues in refinancing the loan.

Take Care

_________________
Find me at FB: http://www.facebook.com/people/Sara-Jones/100002976822020
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Highlights
Bookmark this page
Share |

Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Calculators     [View all]
Are you eligible for loan?
How much you can afford?
Calculate monthly payment
Calculate APR


Financial Tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

MortgageFit on Twitter

Followers (265)








Community Chat

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 21.247 seconds.