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How soon after getting a bankruptcy discharged and getting an FHA refinance can you get another refinance?
Wiki User
∙ 16y ago
You may refinance any time that the refinance improves your financial situation. If you are interested in a no obligation - free detailed analysis - of your situation, please contact me. I am an FHA specialist.
Wiki User
∙ 16y ago
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How soon can you refinance after bankruptcy?
I can finance you one day out of bankruptcy....of course you will pay a much higher rate than those with good credit. After two years you can begin to get more favorable rates (through a knowledgeable mortgage broker, not a mortgage company). Contact me at gkinney@sedonafunding.com Depending on the type of Bankruptcy, you may be able to refinance as soon as it is discharged. If you filed a Chapter 13 bankruptcy, you have a better chance at getting financing than if you filed Chapter 7. Of course, with over 700 lenders at our disposal, we can probably get you financing either way. Call Allied Home Mortgage Capital...281-684-8580 and let's see what we can do for you.
How can one get a loan if they have declared bankruptcy?
Getting a loan after bankruptcy can be difficult depending on what type of bankruptcy one files. A Chapter 13 bankruptcy, one cannot even apply for credit during the length of the bankruptcy. In a Chapter 7 bankruptcy, that is a different story. One can file Chapter 7 bankruptcy and as soon as it is discharged can apply for credit. The only problem with getting a loan after bankruptcy is that you may have to have a co-signer until you build up some positive credit.
What are the benefits of getting a second mortgage refinance?
The main benefit of a second mortgage refinance is that it allows one to not have to create a new mortgage. Creating a new mortgage can be a hassle, which a second mortgage can alleviate.
What is required to get the best refinance mortgage rates?
Getting the best refinance mortgage rates depends on a few factors. They can include the amount already owing on the current mortgage and the current financial situation of the client.
Is it possible to get financing to purchase a house and a car after filing Chapter 7 bankruptcy for the second time?
You need your Bankruptcy Chapter 7 to be discharged first before getting a loan to buy a house. Most lenders require two to four years of re-established credit before they will consider making you a loan. However, many lending sources are competing today to make loans to borrowers with less-than-perfect credit even if you have had your Chpter 7 discharged less than two years ago. You may need to put down a sizable down payment,and have sufficient income to qualify howevevr. there are some mortgage lenders that will allow one day out of bankruptcy with 100% financing
How soon can you refinance after bankruptcy?
I can finance you one day out of bankruptcy....of course you will pay a much higher rate than those with good credit. After two years you can begin to get more favorable rates (through a knowledgeable mortgage broker, not a mortgage company). Contact me at gkinney@sedonafunding.com Depending on the type of Bankruptcy, you may be able to refinance as soon as it is discharged. If you filed a Chapter 13 bankruptcy, you have a better chance at getting financing than if you filed Chapter 7. Of course, with over 700 lenders at our disposal, we can probably get you financing either way. Call Allied Home Mortgage Capital...281-684-8580 and let's see what we can do for you.
You declared bankruptcy a year ago it has been discharged can you rent to own a home?
Yes. You can buy one too. But getting a loan may still well be impossible.
Can you discharge unpaid payroll taxes in bankruptcy?
Some debts, such as taxes (including payroll taxes, most student loans and unpaid wages) are not forgiven in bankruptcy even if you file, and will not be discharged even if you are given bankruptcy relief of your other debts. And being in arrears in taxes may bar you from getting any bankruptcy relief at all . Talk to an attorney as soon as possible.
Can you refile for bankruptcy as an individual after dismissing a joint petition?
Possibly. If there were no creditors complaining, (Motion for Relief from stay) then you should have no problems. Note though that you may have issues getting the first bankruptcy dismissed. Also, you may be better off letting the bankruptcy continue as a joint peition just to save the headache of refiling. Debts are discharged either way.
When you file chapter 7 bankruptcy and have a private student loan is it discharged with everything else?
In most cases no. They follow you for life. There are some very limited hardship forgiveness provisions. Getting run over by an uninsured bus and ending up paralyzed might qualify you. But if he bus was insured they will wait and collect from any settlement.
How do you purchase two vehicles after chapter 7 bankcuptcy discharge?
You purchase two vehicles any way you can. Since the bankruptcy has already been discharged, you are under no obligation to the courts anymore. Basically, you are free and clear to continue with business as usual. So, either pay cash for them or attempt to get financing, whichever way you find adventageous to your situation. If you are asking about obtaining credit? I have known many people that, once the Chap 7 bankruptcy was discharged, they had no problem getting credit as the credit companies knew they could not file bankrtupcy for another 7 years, so they were basically protected and knew they would get their payment one way or another.
If you're in Chapter 13 but your 2nd home is excluded can you refinance it without alerting Bankruptcy Court?
No, the second home is is not excluded. Everything you own is part of your bankruptcy estate and is the property of the bankruptcy trustee, including the second home. You would need court permission to refinance either of your properties. To do so you have to bring a motion requesting said permission and showing how the refiance would benefit your creditors over the plan you already proposed. As part of the motion you would have to propose an amended plan that includes the refinance. Since the property is not, due to the bankruptcy, owned by you, you shouldn't be able to refinance it. The tirle company should pick up on the bankruptcy and not allow the refiance. An alternative to getting court permission is to simply dismiss the chapter 13 case and do whatever you want. You have a right to have the case dismissed. You just need to submit the request to the court and wait for the judge to sign off on the dismissal order. I get the impression that you didn't list your second home in the bankruptcy (is that what you mean by "excluded?"). If so, you committed bankruptcy fraud and your bankruptcy case could be dismissed and charges can be filed by the US Trustee, part of the Justice Department. At best the trustee would want you to add the additional property to your papers. Adding the additional property would change your bankruptcy case (assets) and the plan you filed with the court that was determined by your assets and debts.
How can one get a loan if they have declared bankruptcy?
Getting a loan after bankruptcy can be difficult depending on what type of bankruptcy one files. A Chapter 13 bankruptcy, one cannot even apply for credit during the length of the bankruptcy. In a Chapter 7 bankruptcy, that is a different story. One can file Chapter 7 bankruptcy and as soon as it is discharged can apply for credit. The only problem with getting a loan after bankruptcy is that you may have to have a co-signer until you build up some positive credit.
How do I have my Student Loans Discharged?
Unfortunately, Student loans can not be discharged. Here's how I know..... A person I know took out a student loan in the early 1980s. The school was exposed as a fraud, and closed. He was not given a "school out" to transfer the funds to another school for the same thing, Truck Driving. 7 years later, he had to file bankruptcy after a bad divorce, and the student loan refused to go away. Now, he can't get a loan from a reputable source or go back to school on another grant because, the original loan of 1800.00 is now at 10180.00. He looked into getting it discharged, and his lawyer told him to settle the account for the reduced amount of 5600.00
If one spouse recently had a Chapter 7 bankruptcy discharged and the other has a credit score of almost 750 will the couple be able to buy a house?
You can buy anything you want. Getting someone to give you a loan is another story. If your expecting to use the BK persons income to qualify, or have him on the title...it's going to be very, very difficult.
Is it easy to refinance an auto loan?
Getting a refinance auto loan can be hard or easy for some people, because it depends on your credit status. If your credit score has improved since your last car purchase, you have great chance of getting approved for a refinance auto loan.
If your student loan was discharged in 1985 and 20 years later you would like to go back to school will you have problems getting another student loan?
No.
