bankruptcy and mortgage loans

bankruptcy and mortgage loans

While most financial gurus recommend to avoid bankruptcy, some people think that the filing for Chapter 7 or Chapter 13 to discover that the only alternative. The Bankruptcy is very damaging to your credit. Over the next seven to ten years you can expect to be ridiculously high interest rates on homes, cars to obtain, and personal loans. Fortunately, there are steps you can take to improve your chances of getting a good rate. To get started, shall The right lender.

Difference between a good mortgage lender and a bad

Mortgage companies are in the business of To make money. So they do not always have your best interests in mind. If you have bad credit or recent bankruptcy, some lenders are reluctant to offer a mortgage refinance. The lenders offer refinancing for poor credit applicants may add additional charges and a higher Percentage. The goal is to maximize profits.

A good mortgage company will not get. Instead, they will carefully consider your situation and offer the best Prices possible. Of course, refinance, your prices will be higher compared to a perfect or good credit applicants. Nevertheless, a recent bankruptcy not justify an interest rate, 6 or 7 percent above the current price is.

The choice of a lender for your mortgage refinancing loan

Refinance When selecting a lender for your home loan after a bankruptcy, you must be prepared to conduct their own research. Before signing up for a refinancing, Visit online sites and find information about the current mortgage rates for individuals with bankruptcies or bad credit offered. In this way you can Their own comparisons.

Next, you should only refinance with your existing lender. If you have a good payment history with that lender have maintained, they may be willing to refinance your mortgage with a low rate. You can choose a mortgage bank. Because you are not a history with these lenders is received, it can consider a risky applicant and refuse you a new loan.

Getting Approved by sub-prime Loan Lenders

If your existing mortgage lender and other traditional mortgage lenders refuse your application, you should submit an application through a mortgage broker. Brokers have access to many home loan Financing companies. These include subprime lenders, the loans are for people who do not get approved by a bank or traditional mortgage company.

See my recommended After Bankruptcy Refinance Lenders, for the lowest rates online.

Carrie Reeder is the owner of ABC Loan Guide.

New York Bankruptcy – Second Mortgage Loan Modification in Chapter 13 Bankruptcy


The Ultimate Get Out of Debt Plan: Pay off ALL your debts – including your mortgage. NO Debt Consolidation Loans, Refinancing, Scrimping, Saving or Budgeting, Cutting Up Credit Cards or Bankruptcy!


The Ultimate Get Out of Debt Plan: Pay off ALL your debts – including your mortgage. NO Debt Consolidation Loans, Refinancing, Scrimping, Saving or Budgeting, Cutting Up Credit Cards or Bankruptcy!


$10.99


FORGET…Debt Consolidation Loans, Re-Financing, Scrimping, Saving and Budgeting, Cutting Up Your Credit Cards and Bankruptcy. Learn an amazing, unusual alternative to the conventional debt-elimination options. Imagine…Having hundreds of people sending you all the money you need to pay off ALL your debts – including your mortgage.Having them continue to send you money AFTER your debts are all…

Credit Repair Kit For Dummies


Credit Repair Kit For Dummies


$24.99


Now, you can finally end the cycle of bad credit and get back on your feet by following the step-by-step advice and tools in Credit Repair Kit For Dummies, 2nd Edition. You’ll find out everything you need to know about creating a solid plan to get your credit back on track. You’ll discover how to find your credit report, review all of the information in it, and learn how you can repair and spr…

Fighting Foreclosure: The Blaisdell Case, the Contract Clause, and the Great Depression (Landmark Law Cases and American Society)


Fighting Foreclosure: The Blaisdell Case, the Contract Clause, and the Great Depression (Landmark Law Cases and American Society)


$19.95


In the depths of the Great Depression, when foreclosure rates skyrocketed across the United States, more than two dozen states passed mortgage-extension or -adjustment laws to help farmers and homeowners keep their properties. One such statute in Minnesota led to the most important property law case of its time and still casts a long shadow upon constitutional debates and our own era’s severe econ…













Share and Enjoy:
  • Print
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • Blogplay

Leave a comment

Your comment