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Bankruptcy Home
Financing FAQs
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Chapter 7 - Dismissal of
debt
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Borrowers 1 day out of
Bankruptcy may qualify for 100% financing to purchase or refinance
their home. While individuals still in Chapter 7 can neither purchase, nor refinance an existing home.
NetLoanFinder.com lenders work with damaged credit borrowers.
By helping applicants to correct credit report errors and raise
FICO scores, they assisting them to qualify. Apply, give them a try.
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Chapter 13 -
Reorganization and payoff of debt
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Borrowers in Chapter 13 may qualify for
refinances and purchases up to 100% while still in bankruptcy. The Trustee should have been paid as agreed and the new
loan must payoff the remaining debts named in the Chapter 13. This
of course requires enough equity to do so.
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Why refinance a Chapter
13?
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- Lowered monthly payments. Chapter 13 Trustee
payments can be draining. Refinancing lowers the monthly
debt payments by a substantial amount.
- Beginning the process of credit repair.
Putting major derogatory credit behind you begins the process of
improving your credit scores, which in turn allows better financing opportunities
sooner and more savings.
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