Question:

Is it possible to do mortgage refinancing after bankruptcy?

Answer:

Mortgage refinancing after bankruptcy is possible even if it seems to be a challenge. Actually, you could be able to find a lender to do the refinance right after your bankruptcy has been filed. However, it is advisable that you wait a little - several months in the least - in order to get nice rates when doing mortgage refinancing after bankruptcy.

Before attempting mortgage refinancing after filing a bankruptcy, try rebuilding your credit as much as possible. Even though with a bankruptcy on your records your credit score has made you a subprime borrower, it is worth trying to raise your score, if you are close to 600. Achieving a 630 credit score will let you avoid shopping for subprime loans, which could come quite expensive.

If you are unable to get prime rate loans, you will have to turn to bad credit lenders and refinance later when your credit goes up.

You can find a lender to do mortgage refinancing after bankruptcy online, or at least submit your loan application online for quick revision. Have in mind that rates fluctuate on a daily basis and the rate you got on the quote for mortgage refinancing may be slightly different from the final one.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
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