bankruptcy on mortgage loan

bankruptcy on mortgage loan

equity refinance mortgage loans Mortgages and home equity loans are two different types of loans you can take out on your home. A first mortgage is the original loan that you take out to purchase your home. You may choose to take out a second mortgage in order to cover a part of buying your home or refinance to cash out some of the equity of your home.

Dear Bankruptcy Adviser, I am underwater on my house and have a small amount past due on the mortgage. I have tried to resolve the issue with the mortgage company but haven’t had any luck.

FHA Eligibility with Bankruptcy and foreclosure. fha mortgage loans require borrowers to wait three years after a foreclosure and two years after a bankruptcy before applying for financing. Good credit since the incident is generally a requirement as well. more

Fannie Mae is clear: “When both a bankruptcy and foreclosure are disclosed on the loan application, or when both appear on the credit report, the lender may apply the bankruptcy waiting period.

Unfortunately, bankruptcy gives an automatic low score. However, select lenders are beginning to look beyond the scores and look at the individuals in need. Instead of waiting 2 or 4 years after being discharged from bankruptcy, some mortgage professionals are willing to give a home loan much sooner.

mortgage lenders charge interest rates based on your To choose our top picks, we started with VA mortgage. VA loans, VA loan cashout and VA irrrl (interest rate reduction Refinancing Loan). Like all VA loans, there is no required down payment, other.

Getting a mortgage after bankruptcy can be a challenge, but it’s not impossible. Many lenders have established guidelines for underwriting home loans for borrowers who’ve emerged from bankruptcy, completed a waiting period, and otherwise met certain eligibility requirements.

Bankruptcy Mortgage Loan – Visit our site and try out our refinance calculator and you will see how much you could lower your monthly payments on your mortgage loan.

Bankruptcy Mortgage Broker – Visit our site and try out our refinance calculator and you will see how much you could lower your monthly payments on your mortgage loan.

Before bankruptcy, some mortgage companies not only originated and sold mortgage loans, but also functioned as the "servicer" of the mortgage loans over the life of the loan. In bankruptcy, the.

My wife and I recieved a Ch. 7 bankruptcy discharge in February of this year. That is roughly 7-8 months ago. Credit score is probably just over 600 right now. We have very little debt, obviously. We have one car note that will be paid completely this month and another that will be completely paid off next summer.

People who have declared bankruptcy (or who are considering it) may ask themselves whether they’ll be able to get a mortgage, finance a car or even get a personal loan down the road. To find out.

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