Refinancing
After Bankruptcy
Refinancing after a bankruptcy can seem like an especially difficult challenge,
but it doesn't have to be.
Top Recommended Companies To Refinance With:
(updated ):
Act Now! Lower your monthly mortgage payment!
- Competitive rates and no hidden fees
- Bad Credit OK
- New Purchases, Home Equity & Refinance
- One dedicated mortgage banker from first call to closing
- Quick Application with worthwhile results
If you are looking for a mortgage loan but have "less than perfect credit" this company has options for people with credit problems. Complete a short form and get one dedicated mortgage banker from first call to closing with a simple, straightforward process.
Mortgage rates are still low. Refinance & Lower Your Payment!
- Get Started on a Lower Payment Now!
- America's #1 Online Lender
- Save More and Spend Less!
- No Obligation and Free Expert Advice Another Great "bad-credit" Mortgage Company! QuickenLoans is also a competitive mortgage company for people with all types of credit including poor credit. Refinance or get new mortgage offers from this reputable Web based mortgage lender.
Six months after your bankruptcy has been finalized,
you can find lenders willing to refinance your mortgage. In fact, refinancing
your mortgage can help rebuild your credit to good standing in two year’s
time. The following steps will help you find the best refinance lender
while helping your rebuild your credit record.
Preparing For Refinancing
Right after bankruptcy, you
have six months to prepare to refinance your mortgage. Begin
by establishing good payment history by regularly paying
your bills and current mortgage. This is also a good time
to open a credit card account to start establishing good
credit history.
If possible, also start building
up a savings account. The more cash assets you have, the
better your application will look. Consider having a garage
sale or taking a second job to raise funds.
Researching Lenders
Once you are ready to refinance,
research mortgage lenders and their rates. Online mortgage
websites allow easy comparison shopping. Look at both interest
rates and fees of refinancing quotes. Usually a slightly
higher rate with low fees is the best deal.
With bankruptcy on your credit
report, you will typically need to work with a sub prime
lender. You can expect to pay a few percentage points above
a traditional mortgage, which you can find through online
mortgage companies.
Choosing Your Refinancing
Package
You may be offered a chance
to cash out part of your home’s equity when refinancing your
mortgage. If you need to make home improvements or buy a
car, this may be a good option. However, if you keep your
home’s equity in place, you are improving your credit.
Once you have decided on your
terms, you can finish your loan application online or through
the mail. Quotes are not guaranteed, so rates may vary slightly
once your application has been approved. Before the loan
is finalized though you have the opportunity to review the
loan again.
After Refinancing
With your refinancing completed,
you can plan to lower your interest rates through refinancing
in two years by building up your credit score. Continue to
make regular payments and add to your cash reserves. Before
you apply to refinance again, review your credit report to
be sure your bankruptcy closed all past accounts on your
record. With a solid credit history behind you, you can apply
to traditional mortgage lenders.
Here are our recommended
sources for sub prime or bad credit mortgage lenders online:
Top Recommended Companies To Refinance With:
(updated ):
Act Now! Lower your monthly mortgage payment!
- Competitive rates and no hidden fees
- Bad Credit OK
- New Purchases, Home Equity & Refinance
- One dedicated mortgage banker from first call to closing
- Quick Application with worthwhile results
If you are looking for a mortgage loan but have "less than perfect credit" this company has options for people with credit problems. Complete a short form and get one dedicated mortgage banker from first call to closing with a simple, straightforward process.
Mortgage rates are still low. Refinance & Lower Your Payment!
- Get Started on a Lower Payment Now!
- America's #1 Online Lender
- Save More and Spend Less!
- No Obligation and Free Expert Advice Another Great "bad-credit" Mortgage Company! QuickenLoans is also a competitive mortgage company for people with all types of credit including poor credit. Refinance or get new mortgage offers from this reputable Web based mortgage lender.
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