refinance after chapter 7 bankruptcy

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Chapter 7 Bankruptcy. At least two years must have elapsed since the discharge date of the borrower and / or spouse’s Chapter 7 Bankruptcy, according to FHA guidelines. This is not to be confused with the bankruptcy filing date. A full explanation will be required with the loan application.

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How You Can Refinance Your Home After Bankruptcy – The good news is that if you‘ve declared bankruptcy, you can still get an FHA loan. However, there’s a waiting period, which is partially based on your bankruptcy type. Someone who filed Chapter 7 bankruptcy is eligible to apply for an FHA loans two years after the bankruptcy is discharged.

What Is Bankruptcy? Defining Chapter 7, 11, and 13 – .for up to seven (Chapter 17) or ten years (Chapter 13) from filing and may interfere with efforts to obtain credit, purchase or refinance a home chapter 11 is primarily used to help in debt businesses restructure. An example is the bankruptcy from which GM has recently successfully emerged.

Chapter 7 bankruptcy allows you to keep or surrender your car or truck. – People often wonder how Chapter 7 bankruptcy will affect their ability to keep their car. If you aren’t making payments on a car, then you’ll be able to If the bankruptcy judge (or your lawyer) approves the reaffirmation agreement, you will continue to be liable under its terms after your bankruptcy ends.

Wait Up To Four Years After Chapter 7 Bankruptcy. Lenders have a mandatory "seasoning" or waiting period for re-establishing credit after a bankruptcy is discharged. Fannie Mae and Freddie Mac ask you to wait four years after the discharge date of a Chapter 7 bankruptcy before refinancing.

Frequently Asked Questions – Chapter 13 Standing Trustee – What is Chapter 13? Chapter 13 is one method under the Bankruptcy Code to obtain relief from your creditors, while at the same time providing a fair means to pay them back as much as you can.

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Refinancing a Mortgage Without Reaffirming the Loan | Bankruptcy Law Chapter 7 bankruptcy cannot remove a mortgage lien because that would mean you would keep your home and have it free and clear of any mortgage. Good credit can save thousands on your mortgage.

Chapter 7 Bankruptcy – fA Chapter 7 bankruptcy case does. dismissed the previous case after creditors sought relief from the bankruptcy court to recover property upon which they hold liens. No individual may be a debtor.

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