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How soon after a bankruptcy can I refinance my home?


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Can I refinance my home after a bankruptcy? How soon after a bankruptcy can I refinance? I have heard that I have to wait 2 or even more years since my chapter 7 discharge.


Firstly you do NOT have to wait 2 years to refinance after a chapter 7 discharge, those are for Fannie Mae loans. You can refinance a chapter 7 a day after discharge. A chapter 13 can also be refinanced before discharge since it's on a payment plan for 3-5 years from filing date. You can get a chapter 13 refinance as little as 12 months from filing, not discharge and you can payoff your chapter 13 in the process if you have enough equity in your home. There are key differences between a chapter 13 and chapter 7 refinance but that is for your mortgage broker to be aware of. You will be ok you’re your low FICO score but you will need a specialized broker who understands how to do navigate the bankruptcy situation.

By the way, if you refinance before your 37th month of bankruptcy (within 3 years), then you will be liable for repaying the unsecured debt that you filed for. If you can hold out till the 37th month you can refinance and not be held responsible for that back debt. You can have the lender refinance all of your current debt; this includes your filed bankruptcy that you pay currently on through your trustee and the unsecured debt that you had discharged as well as new debt.

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2006-02-24, 07:23:00
anonymous from United States  
Are you saying that after a chapter 7 backruptcy discharge that you can still be responsible for the debt if you refinance or is that only a chapter 13?
2006-10-04, 10:33:51
anonymous from United States  
The article was informative. I would rate this very helpful.
2007-01-08, 19:23:02
anonymous from United States  
that was good info, thanks
2007-07-23, 18:54:04
anonymous from United States  
this is great information.
2008-01-24, 21:32:57
anonymous from United States  
filed a chapter 7,noone seems to want to help,they all say I have to wait 2 yrs...who can help me?
2008-01-24, 21:34:43
anonymous from United States  
trying to get from a 15yr. to a 30...
2008-02-07, 21:01:44
anonymous from United States  
they all say after a 7 you have to wait at least 2 is lies...been trying with a lot,they all say need to wait at least 2 yrs....find me someone who will refinance after a 7.....not to wait 2 yrs.....good luck.
2009-09-18, 14:43:37
anonymous from United States  
what bank or will refiance my house if i filed bankruptcy? is this going to be difficult because im going to try to refinance on the 37 month of my bankruptcy to avoid owing back debt please help
2009-11-11, 18:28:53
anonymous from United States  
This article is dangerously inaccurate. The author is clearly writing about a subject he or she does not understand. Reader beware.
2010-02-17, 14:12:07
anonymous from Houston, United States  

Thanks for the overview; I am interested in future updates
2012-01-27, 09:04:49
anonymous from United States  
Hi all, if i had a choice of 7 or 13, what would be best to get my 2 mortages refinanced? I have a 80/20 mortage on my house and i understand doing 13 can get rid of the second mortgage but what advantage will i have on chances of refinancing 1 or both loans doing a 7?
2012-05-16, 18:25:08   (updated: 2012-05-16, 18:29:24)
anonymous from United States  
chapter 7 will be comming off my credit report in september,how soon will i be able to finance my home and will i be able to finance w/ FHA?
2012-07-19, 18:01:21
anonymous from United States  
good to know that i can refinance after only 2 years of my BK 7.. how soon can my relative buy a home after a BK 7?
2012-11-05, 12:15:13
anonymous from United States  
I have had contact from people telling me I can refi my VA loan after discharge of Chapter 7 determination letter. Others say I have to wait 2-4 years after filing. My concern is being targeted and placed into a 3/1 or variable rate.
2012-11-08, 12:46:21
anonymous from Atlanta, United States  
I have been under chapter 13 for the past 2 years and got behind on my mortgage payments so I am getting it dismissed. Can I refinance with another lender? I have 120K - 150K in equity and do not want to lose it to foreclosure. I make good money but just could not keep up with the trustee, 1st and 2nd mortgage payments. Will any banks work with me? Help!
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