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Can you refinance your house if you have filed bankruptcy?

bankruptcy law

Just curious…I dont know if there are different bankruptcy laws for each state but I live in alabama…Just curious if we can refinance and if so what all do we have to do to refinance because we are in bankruptcy

This entry was posted on Tuesday, November 25th, 2008 at 3:26 pm and is filed under Bankruptcy Law. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

4 Responses to “Can you refinance your house if you have filed bankruptcy?”

  1. SuperCactus Says:
    November 27th, 2008 at 10:19 pm

    It has nothing to do with law. The question is, “Can you find a lender who will make the loan?” The answer is, “Maybe!” Talk to a mortgage broker. They are hungry for business now and will work hard to try and find a loan for you. But watch out! If they find one it will have a high rate of interest, because you are someone who does not manage your money well. You are a high risk borrower.

  2. autumn Says:
    November 30th, 2008 at 8:33 pm

    in PA & NJ you can, so long as you’re not in forclosure. Just get ready for crap loads of paper work, as your broker may need your help getting some of the documents you need

  3. tardis_mom Says:
    December 3rd, 2008 at 9:59 am

    Refinancing basically means that you are taking out a new mortgage to pay off your previous mortgage, except the new mortgage is at a better interest rate (and lower payments) than the previous one. The problem with declaring bankruptcy is that you will find it extremely hard to find any lender that will lend you the money for the new mortgage, and if they do, it will be at such a high interest rate that it won’t be worthwhile to refinance.

  4. Fred K Says:
    December 3rd, 2008 at 6:47 pm

    It will depend on when your bankruptcy was discharged and what your new credit rating is at. Pull all your credit reports and dispute everything that was included in the bankruptcy, as soon as they drop off your report your score will increase. The higher your score the less interest you will pay. Good luck