Getting a Second Mortgage after a Bankruptcy


Getting a Second Mortgage after a Bankruptcy


Can I Get a Second Mortgage after a Bankruptcy?

Nationwide Lenders offers second mortgages and refinance loans for people who had a bankruptcy recently discharged Refinancing and taking out a second mortgage after a bankruptcy is more possible than ever before. We offer second mortgages for homeowners who have been out of bankruptcy for a minimum of 12 months.

Depending on the amount of equity you have in your home, we will help you reestablish your credit so you can qualify for prime interest rates again. Lock into a fixed rate second mortgage that can save you money. If you currently have an adjustable rate mortgage or home equity line of credit, it makes a lot of sense to review your refinance options for a fixed rate second mortgage.

Fixed rate loans help secure your finances because it provides a fixed monthly payment, & a fixed interest rate for a fixed term.

You can borrow against your home’s equity when you need cash, with either a second mortgage or an equity line of credit, depending on your needs. Both offer tax advantages that most other financing options don’t offer.

Re-establish your credit with a fixed rate second mortgage.
Refinance with a lower fixed rate and rebuild our credit while saving money!

Do Lenders ever Approve Second Mortgages to Pay off a Chapter 13 Bankruptcy? Ask Linda –

Yes, there are a few second mortgages available that allow you to eliminate a Chapter 13 BK out of the loan proceeds at the time the loan funds. I don’t want to mislead you though, it is very difficult, and the rates offered for that program are significantly higher.

Check with your friendly loan consultant at Nationwide: Toll Free 1-877-212-9478.

Bankruptcy Reform Update

2005 will be remembered as the year for bankruptcy reform. After more than five years of partisan infighting, President George W. Bush gave his imprimatur on April 20 to the Bankruptcy Abuse and Consumer Protection Act of 2005. The most sweeping changes to U.S. bankruptcy law since 1994 became effective on October 17, 2005, precipitating a blizzard of last-minute consumer bankruptcy filings to avoid the more stringent eligibility requirements created by the new law. Part of the legislation was an entirely new section of the Bankruptcy Code – chapter 15 – to govern cross-border bankruptcy cases. The May/June 2005 edition of the Business Restructuring Review contains a comprehensive analysis of chapter 15 and significant provisions in the new law applying to business debtors.