Can one refinance after filing for bankruptcy?

Asked by Trulia Miami, Miami, FL Thu May 23, 2013

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John Xavier, Agent, Doral, FL
Sat Apr 19, 2014
Correct! Depending on the Lender two years is the average wait time to refi
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Joycelewis412, Home Buyer, Sacramento, CA
Sun Aug 25, 2013
You may be able to finance the purchase of a home two years after you have received your bankruptcy discharge, but you may qualify as early as one year after filing Chapter 13, or one year after discharge in Chapter 7.

Check if you qualify for a mortgage. Try
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Yanoska Diaz, Agent, Miami, FL
Sat May 25, 2013
Of course you can, given that you wait for time you will be allowed to do it.
0 votes
Meg Sahdala, Agent, Coral Gables, FL
Thu May 23, 2013
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.
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, ,
Thu May 23, 2013
Yes, but there is a minimum time you must wait to do so. You must also have three open and active accounts in your credit report for at least 12 months. For a confidential consultation call me.

Jose Morales
Florida Mortgage Coach
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