Posted on: 27th Aug, 2009 11:11 am
can you streamline refinance an fha loan after filing chapter 13 bankruptcy?
It is possible, however, you need to work with the right lender.
All lenders have their own requirements. Some lenders require a credit score and mortgage history. Some lenders require only mortgage history.
Which brings up the point, it should be possible only if last 12 mortgage payments have been made on time--no lates. Some lenders will do it with one 30 day late in the past month.
Your best bet is to work with a mortgage broker who has access to several lenders and hopefully the right one.
All lenders have their own requirements. Some lenders require a credit score and mortgage history. Some lenders require only mortgage history.
Which brings up the point, it should be possible only if last 12 mortgage payments have been made on time--no lates. Some lenders will do it with one 30 day late in the past month.
Your best bet is to work with a mortgage broker who has access to several lenders and hopefully the right one.
yes,it is possible.
FHA mortgage refinance loans actually enable borrowers the ability to buyout their Chapter 13 Bankruptcy if they can document a timely payment period for the BK. The other FHA refinance requirement is that the borrower has had the Chapter 13 bankruptcy for at least 1 year.
it enables borrowers in a BK to be rewarded with a lower fixed rate mortgage by simply showing our mortgage lenders that you have made the bankruptcy payments on time in the last twelve months.
FHA mortgage refinance loans actually enable borrowers the ability to buyout their Chapter 13 Bankruptcy if they can document a timely payment period for the BK. The other FHA refinance requirement is that the borrower has had the Chapter 13 bankruptcy for at least 1 year.
it enables borrowers in a BK to be rewarded with a lower fixed rate mortgage by simply showing our mortgage lenders that you have made the bankruptcy payments on time in the last twelve months.
