can i refinance my house after bankruptcy

You are correct in one assumption: few lenders want to force a sale or foreclose. But you might not be correct in your other assumption — that you can’t refinance because of the bankruptcy. As long as the market value of your house hasn’t declined substantially since you bought it, it’s still a well secured investment for your mortgage holder.

It is unlikely that Wells Fargo will refinance you after bankruptcy because they just don’t do this kind of thing. Better option is to speak with other lenders, including local credit unions who have greater flexibility. Because this property is not your residence, you are not likely to qualify for most kinds of loan modification programs.

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Blemishes on your credit can happen, and bankruptcy or foreclosure can be a particular concern for those hoping to buy a home with a USDA.

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You can refinance if you’ve filed bankruptcy as long as the bankruptcy was discharged more than 12 months ago My sister lives there for free. My mother signed the house to us to be sold and split equally.

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To sum it up, the answer to the question "can I refinance my house after filing for bankruptcy or filing for a consumer proposal?" is yes, so long as you can find a lender who is willing to work with you. At Prudent Mortgage Corp., we have lenders who do just that.

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You won’t be responsible for paying your mortgage after filing for Chapter 7 bankruptcy, but you’ll have to give up the house. The lien rights that allow a lender to foreclose on the home, sell it, and use the proceeds to pay down the mortgage don’t go away in bankruptcy.

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You can refinance a mortgage after a bankruptcy but it takes time and requires special conditions from the courts.

refinancing a home after divorce Typically, refinancing is done to take advantage of better interest rates, extend the maturity of the loan, or change the names on the mortgage, such as in cases of divorce. If you jointly own a home with your former spouse but want to continue with the mortgage on your own, then you will need to engage in refinancing after divorce.

Learn when you can buy or refinance.. When it comes to buying a house after bankruptcy, home loans have a guideline called a bankruptcy.

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