There are different guidelines depending on whether you filed a Chapter 7 or a Chapter 13 Bankruptcy. In many situations, if you filed a Chapter 7 bankruptcy, you may have lost your home as part of the bankruptcy process-but this is not always the case. Understanding your rights and the responsibilities of your particular bankruptcy plan will make you better able to have realistic expectations regarding home refinancing options.
FHA lenders require that Chapter 13 filers wait at least a year after filing to qualify for a refinance loan and require evidence of timely payments. Discharged borrowers must document that payments were made as agreed according to the terms during at least the most recent 12 months. Chapter 7 borrowers seeking a FHA loan must provide proof that the bankruptcy has been discharged for a period of 2 or more years.