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Chapter 7 Bankruptcy will remain on your credit report for 10 years. However, many lenders will refinance you after 24 months has passed from the DISCHARGE date (not the filing date). Each lender may set their own parameters, so it is always possible to find lenders who may require more or less time. Additionally, most lenders will require the re-establishment of good credit. This is often defined as 3 new accounts opened and maintained after the bankruptcy occurred.
What else can I help you with?
Does the bank have to refinance you if you file a value of collateral in a chapter 7 for what the house is worth?
No, it does not. But there may be a change in the law allowing a "cram down" of mortgages, as there used to be in bankruptcy.
When can you refinance your home after a chapter 7?
In order to refinance after a Chapter 7 most bank guidelines will be 2 years from discharge date. The credit will have to be reestablished as well. There are some banks with various guidelines that will take a look at refinancing <2 years but not less than 12 months if you can prove the bankruptcy was caused by extenuating circumstances beyond the borrowers control. Veronica Rodrigues Voyage Home Loans
Is it possible to buy a home after filing chapter 13 then chapter 7 bankruptcy?
Yes, it is possible but there are circumstances. Time is a big factor, that is how much time has passed since the chapter 7 was discharge? I know of lenders who will provide loans just one day out of bankruptcy. But a fairly decent credit score has to be there and if its a refinance there has to be some equity in the property.
What lenders refinance while in a chapter 13 bankruptcy?
None, if you mean refinance a debt in the chapter 13. If your car dies, and you can find one that does not require a payment much more than you were paying before, you can probably get it approved by the trustee and the court.
Can you leave a chapter 13 bankruptcy open and refinance your current mortgage if the mortgage?
This question is incomplete. In most districts, you cannot incur new debt if you are a debtor in an active chapter 13 case. To refinance or incur any new debt, you have to obtain the consent of the Standing Chapter 13 Trustee in your case.
If your chapter 7 bankruptcy was discharged six weeks ago what are your options for a refinance?
You can quite possibly refinance up to 80 percent of the value of your home and get some cashout with a decent rate.
How long after bankruptcy do you have to wait before refinancing?
Refinancing after a bankruptcyThe time period you have to wait depends on what chapter bankruptcy you filed. 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.To add to the above answer, you do NOT have to wait 2 years to refinance after a chapter 7 discharge, those are for fannie Mae loans. You can refinance a chapter 7 a day after discharge. A chapter 13 can also be refinanced before discharge since it's on a payment plan for 3-5 years from filing date. You can get a chapter 13 refinance as little as 6 months from filing, not discharge and you can payoff your chapter 13 in the process if you have enough equity in your home.
How long chapter 7 BK do you have to wait to refi?
After filing for Chapter 7 bankruptcy, there is a required waiting period before you can refinance again. Both Freddie Mac and Fannie Mae, require a waiting period of 4 years after the dismissal date.
Does the bank have to refinance you if you file a value of collateral in a chapter 7 for what the house is worth?
No, it does not. But there may be a change in the law allowing a "cram down" of mortgages, as there used to be in bankruptcy.
When can you refinance your home after a chapter 7?
In order to refinance after a Chapter 7 most bank guidelines will be 2 years from discharge date. The credit will have to be reestablished as well. There are some banks with various guidelines that will take a look at refinancing <2 years but not less than 12 months if you can prove the bankruptcy was caused by extenuating circumstances beyond the borrowers control. Veronica Rodrigues Voyage Home Loans
Is it possible to buy a home after filing chapter 13 then chapter 7 bankruptcy?
Yes, it is possible but there are circumstances. Time is a big factor, that is how much time has passed since the chapter 7 was discharge? I know of lenders who will provide loans just one day out of bankruptcy. But a fairly decent credit score has to be there and if its a refinance there has to be some equity in the property.
What lenders refinance while in a chapter 13 bankruptcy?
None, if you mean refinance a debt in the chapter 13. If your car dies, and you can find one that does not require a payment much more than you were paying before, you can probably get it approved by the trustee and the court.
Can you leave a chapter 13 bankruptcy open and refinance your current mortgage if the mortgage?
This question is incomplete. In most districts, you cannot incur new debt if you are a debtor in an active chapter 13 case. To refinance or incur any new debt, you have to obtain the consent of the Standing Chapter 13 Trustee in your case.
Can you refinance 2 years after Chapter 7 bankruptcy?
Absolutely! 2yrs after you discharge a chapter 7 BK, you are eligible to refinance with many "sub-prime" lenders, who lend money to people in your particular situation. The best thing for you to do is contact a mortgage broker, like myself, who can research what program would fit your financial situation the best. If your goal is lower payments and greater flexibility, the sooner you act, the closer you are to building your credit history back to where you would like it to be.
How long do you have to wait to refinance with a traditional mortgage company or the government HARP program after a chapter 7 bankruptcy I have a Fannie Mae loan and my discharge is almost 2 yrs old?
After a Chapter 7 bankruptcy, you typically need to wait at least four years to refinance with a traditional mortgage lender. However, if you have a Fannie Mae loan and your discharge is nearly two years old, you may qualify for refinancing under the Home Affordable Refinance Program (HARP) if you meet other eligibility criteria. It’s advisable to check with your lender for specific guidelines and to confirm your eligibility for refinancing options.
How does one refinance a home after a Chapter 13 bankruptcy?
One can find a guide on how to refinance a home after a Chapter 13 bankruptcy on various websites like Homeguides and wikiHow. Both websites offer a great amount of information about all kinds of things, including bankruptcy.
What is the name of chapter 7 of the Bible?
Chapter 7 of the bible will always be chapter 7.
