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Mortgage Community Forums | Loan Talk for First Time Home Buyers | Is Refi the same as a purchase

Is Refi the same as a purchase

Posted on: 07th Apr, 2010 05:40 pm
My CH7 BK was discharged 4/2008 and I also had a rental property foreclosed 4/2008. Can I refi on my home I currently live in or does it fall under the same FHA rules that you MUST be 2yrs out of BK and 3yrs from Sheriff Sale of a foreclosure?

Thoughts?
welcome treisdorf,

as far i know, the rules are same both for refinance and a new purchase. you will have to wait for 2 years after your bankruptcy is discharged in order to get a fha loan to refinance. in case of foreclosure, you'll have to wait for 3 years in order to qualify for a loan.
adonis
Posted on: 07th Apr, 2010 09:15 pm
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