Generally, you are able to refinance 2yrs after a Chapter 7 discharge.
If you are in Chapter 13, you can refinance the next day with many lenders. You can email a mortgage broker like myself to find out more.
* The usual length of time after a bk dismissal required to refinance is 24 months. There are different requirements with different lenders. Some specialize in assisting borrowers with bks. * It depends on the type of Bankruptcy you filed....Chapter 7 or 13. I have lendors that will offer financing one day out of a Chapter 13.
You may do it at any time you can find a lender willing to do so.
Especially with all the commotion surrounding sub-prime lending (which a loan to a recent bankrupt would certainly be), that may be hard to find.
First home buyer should wait how long before refinancing?
If it is a Chapter 7 Bankruptcy, you have to wait 8 years before you can file it again.
It is 180 days before you can refile
The rule for refinancing after bankruptcy is that you should wait 10 years after filing bankruptcy even chapter 13 so that the bankruptcy is off of your credit and you can get a better chance of getting the refinance. You could try before it's removed but you will have difficulties.
How long a federal prison sentence would you like?
You have to wait eight years after filing for Chapter 7 and 4 after filing for Chapter 13.
The pros to refinancing in bankruptcy are: You can refinance your home and pay off your trustees if you have enough equity in your home. You can save money each month and start rebuilding your credit. Cons: you'll need to wait untill your 37th month of bankruptcy if you don't want to be held responsible for the unsecured debt that you filed for. Interest rates will be higher and you may have trouble finding a lender.
Two years or you will have to pay uncle sam capital gains.
Well..presuming your relationship sense is better than your financial...BK makes no difference.
about a year or two
There is no wait period.
It will probably be two or three years before you are able to open up a checking account. Bankruptcy severely effects your credit.