Posted on: 14th Jun, 2012 02:01 am
I filed chapter 7 in January this year and got it discharged in April. We have even reaffirmed the mortgage. We now want to take out a new mortgage. What are our chances?
Hi Sovit,
I agree with what Sara has said. To know all about Chapter 7, check out the given page: http://www.mortgagefit.com/bankruptcy/chapter7.html .
Thanks
I agree with what Sara has said. To know all about Chapter 7, check out the given page: http://www.mortgagefit.com/bankruptcy/chapter7.html .
Thanks
Hi Sovit,
I also agree with what above said...however, there are few ways where you can get a loans in other form..
here is an alternative options for Chapter 7 BK...check it out..
"http://suite101.com/article/get-a-loan-after-bankruptcy-chapter-7-post-bankruptcy-loans-a290034"
[External link deactivated as per forum rules. Thanks.]
I also agree with what above said...however, there are few ways where you can get a loans in other form..
here is an alternative options for Chapter 7 BK...check it out..
"http://suite101.com/article/get-a-loan-after-bankruptcy-chapter-7-post-bankruptcy-loans-a290034"
[External link deactivated as per forum rules. Thanks.]
You can take another mortgage loan on your property after few years of bankruptcy discharge depending on type of loan. So it is better to consult bankruptcy attorney for better assistance.
it depends on the amount of equity in your house. Hard money lenders will lend you up to 70%, regardless of your credit. But traditional lenders won't consider you until 24 months after your discharge.
Yes, raymond you are right that its depends on the total amount of the equity of your house and most of moneylenders provides you 60 to 70 percentage of credit.