How long do I have to wait after bankruptcy until I can refinance?

Asked by Charles

2 Answers

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Answered by Mark Haynie, Mortgage Broker in Los Angeles, CA
Hi Charles - it depends on the lender. The standard answer is 7 years. Most of the big institutions stick with that. But there are several mid-sized lenders that allow BK outside 4 years. Find a Direct Lender with multiple correspondent investors. Let them scour the guidelines for a 4 year lender. Guaranteed Rate has at least 3 of these lenders. Good Luck! | 09.19.14 @ 22:42
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$commenter.renderDisplayableName() — {comment} | 12.03.16 @ 18:08
Answered by Heath Schneider, Mortgage BrokerPRO+ in Las Vegas, NV
You can buy 1 day after a Short sale, Foreclosure, or Bankruptcy. You would need 20% down. Rates vary based on your credit after you come out of any of these events. | 09.20.14 @ 13:02
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$commenter.renderDisplayableName() — {comment} | 12.03.16 @ 18:08
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