Bankruptcy Mortgage Refinancing Help

Refinance Home Loans for People with Damaged Credit, BK, Foreclosure & More

Finally, there is a place to find bankruptcy mortgage lenders that provide refinancing loans for people with credit problems after a bankruptcy or foreclosure. There could be changes coming to the bankruptcy laws in 2020, so get help locating the mortgage companies that are equipped to answer your questions on qualifying for a mortgage after a bankruptcy. There may be new choices for borrowers with low credit as the rules for refinancing with poor credit histories and refinancing after a bankruptcy have changed.

If you have less than perfect credit you know that qualifying for a refinance mortgage or home equity loan can be very difficult after a bankruptcy, foreclosure, short-sale and even credit counseling. Bankruptcies have become much more common in the last decade, due to the increasing consumer debt and instability in job marketplace. It is very important to rebound after a BK, and rebuild your credit.

Home refinancing is a great way to rebuild your credit scores quickly. FHA bad-credit loans enable borrowers to qualify for home refinancing 2 years after 7 or 11 bankruptcies are discharged. There are several subprime and FHA programs that enable borrowers to pay off their chapter 13 bankruptcy in a refinance loan if they have good payment history with their BK, and they have been paying on it for more than one year. bad credit refinance mortgages can be very difficult to get approved by a bank, so connecting with a lender that understands your needs and has experience getting a refinance mortgage after a bankruptcy approved in 2020 is essential.

How to Select the right Mortgage After a Bankruptcy:

Conventional, jumbo, FHA & VA, interest only, hybrid ARM's and non-conforming subprime mortgages for refinancing regardless of your fico score or poor credit history. We will help you find companies that specialize in programs for home refinancing after a bankruptcy, short-sale or even foreclosure. Hard-money and sub-prime mortgage loans are not for everyone. Ask your lending expert if there are other potential government programs designed to help people secure home loans with bad credit without being required to pay excessive closing costs and pre-payment penalties.

Re-Establish Credit Quickly:

It is very important to re-establish credit after your bankruptcy has been discharged. Getting approved for a house loan with no credit after a bankruptcy is very difficult.

Refinance after a bankruptcy

  • Learn More About 2018 Guidelines to Refinance a Mortgage After a Bankruptcy
  • Refinance Mortgages for Consolidation of Debt and Bad Loans
  • Get Help Understanding the Requirements for a Mortgage After a Bankruptcy
  • Is 2nd Mortgage Lien Stripping an Option for You?
  • Learn How to Eliminate 2nd Loans in Bankruptcies
  • See the Rules for Home Refinancing with a Chapter 7, 11 and 13.
  • Refinance Adjustable Rate Debt into a Home Refinance After Bankruptcy
  • Multiple FHA Refinance Programs Post Bankruptcy
  • Discover Reduced Monthly Payment Options with Fixed Rate Refinancing

Home Refinance with a Bankruptcy in 2020

Stated Income Refinancing?

Low Fico Scores OK

Fixed Rate Mortgage Liens

Cash for Credit Consolidation

How Much Will Refinancing Debt Save?

Pros and Cons of Low Interest Only Payments

10, 15, 30 or 40 Year Fixed Rate Terms

Past Bankruptcy OK with Chapter 7 & 13

Are you looking to refinance your bankruptcy into a new mortgage?
Nationwide announced several new bad-credit refinance loans for homeowners that had a chapter 7 or 13 bankruptcy discharged recently.

Refinancing after a Bankruptcy

Question: From Homeowner residing Ventura, California- "What are my Refinancing Options After a Bankruptcy in 2020?"

Answer: Bankruptcies have become increasingly common across the country. Homeowners often take on debt without anticipating any setbacks in their finances. In 2018, Fannie Mae, Freddie Mac and FHA have issued new mortgage rules for refinancing after a bankruptcy, so you need to discuss your situation and goals with an experienced loan officer?

As you know, we don't live in a perfect world, and people lose jobs, people get unfortunate hospital bills, and people get overwhelmed with debt. Sometimes Bankruptcy is the best option for families financially. Taking out a second mortgage or refinancing your existing mortgage is a big responsibility and like your teacher told you a long time ago, there are "No bad questions." Understanding your refinance options is a great idea. Of course, your question, leads me to asking you a few questions, so that I can properly advise you with your financial endeavors. What is your 1st mortgage balance? Do you have a second mortgage? What do you estimate your house is worth? How much cash do you need? What are you doing with the cash? (ie. bill consolidation, investments, home improvements, etc.) What is your credit score? What is the current rate on your mortgage.

So, if I have the facts straight: You owe $227,000 on your first mortgage with a current rate of 7.25% fixed for 30 years. Presently, you don't have a second mortgage. You estimate your home's value at $295,000 based on home's selling in your neighborhood recently. You believe your fico score is 665, and you've never been late on any bills since your BK, four and a half years ago.

Finding a mortgage refinance after a bankruptcy can offer many benefits if you need to payoff interest rates on credit cards or other types of secured loans, since the loan provides large sums of money to pay off the interest.

Linda Nelms is a Financial Advisor, Loan Officer and Free-Lance Writer.

Spotlight on Refinance Mortgage Options for People with Bad Credit

FHA refinancing has become a great alternative to subprime lending. Borrowers with less than perfect credit like FHA programs because interest rates are low, the credit guidelines are flexible, and the liens are insured by the U.S. government. Even though HUD discontinued the FHA Secure and Hope for Homeowners programs, the Department of Housing and Urban Development continues to reach out to distressed homeowners with programs like the Emergency Homeowner Loan Program that enables eligible borrowers to be approved for a FHA loan with poor credit scores.

Also see options for FHA Streamline Refinance, 97% FHA Refinance Loans


Resource Tools

Refinancing Calculator
Analyze the benefits of refinancing. Get help calculating the monthly payment and discover the net interest savings. It will also calculate how many months it will take to get a return on investments for the mortgage loan costs.

ARM vs. Fixed Rate Calculator
How does a fixed rate 1st or 2nd mortgage compare to an adjustable rate mortgage or home equity line of credit?

Featured Pages to Help with qualifying for a mortgage after a bankruptcy:

Mortgage Lenders for Bad Credit

Refinance with FHA

How to Refinance After a Bankruptcy

Additional Refinancing Pages:
Sub-Prime Mortgage Refinancing | Second Mortgage Refinance | 40 Yr. Fixed Rate | Adjustable Rate Refinance | Reduced Payment Mortgage | 100% Mortgage Refinancing | Bad Credit Mortgage Refinance | Cash Out Refinance

Mortgage Refinance Guidelines | Rate and Term Refinancing | 30-Year Fixed Rate Refinance | Home Affordable Refinance Program | Conventional Loan | Underwater Mortgage | Home Loans for Bad Credit | Refinance Options for Homeowners in the US | Second Chance Mortgage | FHA Mortgage Refinance | Low Credit Score Home Loans | Bad Credit FHA Mortgage | Are Subprime Mortgages Coming Back?

Other Popular FHA Refinance Loans:
FHA Refinancing Loans | FHA Mortgage Rate Refinance | FHA Mortgage Loans for Fair Credit Refinancing
Apply Now | Disclosures and Terms | Refinance Rates

BD Nationwide Mortgage, 515 Encinitas Blvd. Ste 100, Encinitas, California 92024
Please be aware that this is not an advertisement for credit as defined by paragraph 226.24 of regulation Z. Nothing on this site contains an offer to make a specific home loan for any purpose with any specific terms. This is a web-site and no loans can be guaranteed as loans and rates are subject to change. BD Nationwide was affiliated with a federally chartered bank located in Maryland licensed to offer home loans in all 50 states.

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