Can I Refinance After Filing Bankruptcy?


How long after bankruptcy can you refinance? Well, that’s a tough question to answer because it depends to such a large extent on the mortgage companies and the housing market, and whether or not you have any equity in your home – things of that nature. You know, there’s no particular set time. Usually a company would want you to wait a little bit before they talk to you about refinancing.

But these days the housing market is tough in this country, whether you’re in bankruptcy or whether you’re not. A lot of people are being turned down for refinancing. I suspect you probably know that already, because most people who apply now find out that it is a tough housing market.

But after your bankruptcy is finished, and if you have some equity in your home, talk to mortgage companies and apply and see what they say. There are companies out there, but be careful because, you know, you don’t want to get stuck with an extra high interest rate, or some type of accelerating interest rate like an arm that adjusts itself up to a point so high that you can’t make the payments. Be very careful about that type of thing.

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