Lower your mortgage today:


---

How This Works

  • Fill out our simple form
  • Get up to 4 free quotes
  • No credit check and no obligation
---

Consolidate Your Debt

$160,000 loan for under $634/mo. Several options.
---

Historic Low Refi Rates

Compare loan rates from top lenders. Save now!
---

Search more topics…

Compare Mortgage Rates
From Top Lenders

Type of Loan
Property State
Home Description
Your Credit Profile
Note: Your credit profile will not be run for this inquiry.
---

More Topics…



 ---

Can Homeowners Who Have Filed for Bankruptcy Still Get Home Mortgage Refinancing?

Got bad credit?

Compare rates from up to 4 lenders for refinancing loans.

Normally, most banks and lenders will require that your bankruptcy be discharged for a minimum of 3-4 years. However, "IF" you have been working to improve your credit since your bankruptcy by obtaining secured credit cards (i.e.Capital One and Providian) and using the credit cards and paying them off every month, your credit will improve drastically within the first 2 years. At that time, you might even qualify for a home loan easily once you have built up your new credit. The secret is that you "MUST" build new positive credit a day after your bankruptcy discharge. If you do not do this, even 5 years from now, it will be hard for you to get a home loan.

Also, your home loan approval will be based on whether you have any money for down payment. More you have available for down payment, easier it will be to get approved. For instance, if you have 15-20% for down payment or have that much in equity, you can obtain a home loan with less than one year from your bankruptcy. If you have little to no money for down payment, you will need to have a 580 minimum fico score for 100% home loan with minimum 2 years from discharge date. For a refinance loan after bankruptcy, call us for more details. If you have some equity in your home, we might be able to assist you right away. Bankruptcy is not always a bad thing on your credit, the worse thing is not working to improve your credit. We will look at your credit for the last 12-24 months. If you have not had any late payments and no collection accounts during the last 24 months, you will have a better chance. I encourage you to contact the three credit reporting agencies (Experian, Trans Union, Equifax) to receive a copy of your credit report to see how your credit looks.

You can personally work on your credit to restore your credit score. We have seen many clients who were able to get their FICO scores raised to over 600 within a year of their bankruptcy and/or other negative records on their credit reports. Please read this article about what you should expect and what to do after filing a bankruptcy.