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If the mortgage on your property is foreclosed the bank takes possession and you lose the property. You can't refinance. I have heard that to take on a new loan is possible in as little as two years.
However, if you own another property paid off or in good standing, the foreclosure could affect your ability to refinance that property. I've heard 3 years so 2 years is a plus!
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∙ 13y ago
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Which banks offer good foreclosure refinance services?
There are many different banks out there. The one with the best foreclosure refinance services is Bank of America. If you contact Bank of America and explain your situation, they will try and help you find an alternative. It depends on if you want to stay in your home, or if your willing to sell it.
Can you save your house after foreclosure notification?
Probably not. Once the loan is out of compliance, you would need to either refinance it or just pay it off.
How to Erase foreclosure off credit report?
wait 7 years
Can you get a refinance loan with a credit score of 400 if your house is in foreclosure?
Your house is in forclosure, this means you do not pay your mortgage. Unlikely a bank would take such a risk!
If you were in foreclosure but were able to refinance the home before the foreclosure went through how long will this stay on your credit report?
When I went through this they told me seven years, but it gave me trouble til 10 years to the day. At ten years and one day, it was like the world re-opened. the old loan which was in foreclosure, should show up as paid zero balance since you refinanced it. The loan and all of your late payments will still show up for 7 years.
Can you refinance after forecloser?
After a foreclosure you no longer own your property. You have nothing left to refinance.
Which banks offer good foreclosure refinance services?
There are many different banks out there. The one with the best foreclosure refinance services is Bank of America. If you contact Bank of America and explain your situation, they will try and help you find an alternative. It depends on if you want to stay in your home, or if your willing to sell it.
What if that person refuse to refinance the car in there name so the other person can get off the loan?
The co-signer cannot force the primary borrower to refinance. They must wait it out until the loan is paid.The co-signer cannot force the primary borrower to refinance. They must wait it out until the loan is paid.The co-signer cannot force the primary borrower to refinance. They must wait it out until the loan is paid.The co-signer cannot force the primary borrower to refinance. They must wait it out until the loan is paid.
Can you refinance your mortgage while it's in foreclosure?
If you are in foreclosure it will be very hard to refinance out of it. If you are able to get current I would say there's a chance if your loan makes sense. You could possibly however get something called a, hard money loan, but the interest rate would be very high and you would have to pay a lot of money up front. If you are in foreclosure, I would try and short sale the property or become current.
How long do you keep old foreclosure papers?
how long do you keep foreclosure papers
Can you save your house after foreclosure notification?
Probably not. Once the loan is out of compliance, you would need to either refinance it or just pay it off.
Can I refinance a residential loan once foreclosure proceedings have started?
Yes, and you should keep fighting to stay in your home until the foreclosure is final. Make every effort to contact and work something out with your lender. Right now the banks don't want any more repossessed homes if a refinance could help you repay your loan.
Can you refinance your home if it's in the early stages of foreclosure?
I don't think you can, you should try to get a mod- just say "bankruptcy" and see how helpful they will get.
What is the best way to refinance foreclosure?
This depends on your home loan status but it is often best to refinance as it requires minimum impact credit by replacing one loan with another. Another option is to short sell (selling your home at a loss).
How soon could you refinance after you purchase a car?
As long as your current loan shows on your credit and can be accessed by the refinance company, you can refinance anytime. There is no set time to refinance.
How to Erase foreclosure off credit report?
wait 7 years
Can you get a refinance loan with a credit score of 400 if your house is in foreclosure?
Your house is in forclosure, this means you do not pay your mortgage. Unlikely a bank would take such a risk!
