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You can, but you will get HORRIBLE financing! The BEST solution is to have the BK deleted.
Certainly but because you defaulted on your debts the lender will charge you a higher interest rate and may demand more collateral or equity in the property due to the increased risk
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∙ 13y ago
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Will bankruptcy protect me from foreclosure by my mortgage company?
Yes, bankruptcy protect you from foreclosure by your mortgage company. You can read more at www.hirby.com/mortgage-lender-filing-for-bankruptcy
Can you get a reverse mortgage if you file bankruptcy?
Yes, a reverse mortgage does not have any credit requirements, however if you are in bankruptcy or filing one you may need court approval to do the reverse mortgage.
Where can someone find information about getting mortgage loans after bankruptcy?
Quicken Loans has an excellent section on how to obtain a loan or mortgage after filing bankruptcy. Most debt consolidation centers and bankruptcy attorneys will have information or references for those seeking information on applying for a post-bankruptcy loan or mortgage.
Am I legally allowed to refinance my home mortgage after filing bankruptcy?
You can legally refinance if you choose to, there are no restrictions from the bankruptcy. With that, you may find that lenders will not approve your loan because of the bankruptcy.
If you are a joint mortgage holder and the other person on the mortgage files bankruptcy how does that impact the mortgage?
The house won't be affected at all UNLESS... The person filing BK is filing it on the house as well whether it be a 13 (repayment) or a chap 7
Is there a law that prevents getting a mortgage after Chapter 7 bankruptcy?
No. Such a law would violate bankruptcy law, which prohibits discrimination by reason of bankruptcy. The problem is usually getting a mortgage because of credit scores, which include many factors including the reasons for filing bankruptcy.
Can you reaffirm your first mortgage without reaffirming your second mortgage after filing bankruptcy?
You should file a 'proof of claim" with the bankruptcy court and take you place in line to be paid...whcih will likely be a few pennies on the dollar.
Can you get a second mortgage after filing bankruptcy?
Yes, as long as the bankruptcy has been discharged, your credit score is 580+, and you earn enough income to support the additional loan.
How can one get a mortgage refinance after a bankruptcy?
One would first have to wait two years after filing for bankruptcy. After this period, one can apply for a mortgage but one should pay bills on time and do not expect for it to be easy. Persistence is key.
If the mortgage was reaffirmed but on your credit report it appears as Bankruptcy is this an error?
Yes, a reaffirmed mortgage needs to reflect the mortgage payment history before, during and after the bankruptcy proceedings. "In Bankruptcy" needs to portray only DISCHARGED BY or INCLUDED IN...Bankruptcy. Contact your mortgage company so that all of your payment history shows on all three bureaus. No. Not if it were a part of the bankruptcy filing. It may or may not be marked included in bankruptcy or reaffirmed in bankrutpcy. It will still remain on the CR for the prescribed time.
CAN I QUALIFAY FOR A HOUSE LOAN IF I HAD CHAPTER 13?
Yes it is possible to qualify for a mortgage despite a Chapter 13 bankruptcy filing. In a Chapter 13 filing the debtor agrees to a court structured debt repayment schedule. Typically, after making payments on time to creditors as required by the bankruptcy agreement an individual can be discharged by the Court from the Chapter 13 proceeding. Once discharged from bankruptcy an individual can apply for a mortgage. Each bank has different rules about how soon someone can apply for a mortgage after a bankruptcy. Most people coming out of bankruptcy apply for an FHA mortgage loan since this program has the most lenient underwriting standards.
Can a person secure a mortgage after filing for bankruptcy?
"It is exceedingly difficult to do so. In most cases, bankruptcy inhibits that for the duration that the filing stays on record. If you do get a loan, it is usually at 8-12% rates, or 3-5% above the average. Total cost might be 200% of non bankruptcy loan."
