I declared Chapter 7 Bankruptcy in 7/13 - it was discharged in 10/13. Ditech and Quicken say I have to wait 2 years to refinance. How can I refinace now?

Quicken Loans and Ditech both said they could work with me after two years pass from my Chapter 7 discharge date. I have a 617 credit score and not much debt. ...just a student loan for about $1400.00 and my mortgage which runs 708.00 per month. Are there any mortgage companies you might suggest that would be willing to work with me with these circumstances?

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Answered by Ted Erickson, Mortgage Broker in Novato, CA
There are subprime loans available for you but at very high rates and high fees. I would work on improving your score because you wil need to wait 4-5 years from your BK at this point to get a good rate. 2 years you can refinance with an FHA loan but those are very costly loans also. Start fixing your credit now. | 10.23.14 @ 05:02
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$commenter.renderDisplayableName() — {comment} | 12.09.16 @ 14:07
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