If you file bancruptcy can you ever refinance your home?

Question by sadonnac: If you file bancruptcy can you ever refinance your home?
I have to file bankruptcy but I still own my home, how long will i have to wait before a mortgage company will talk to me about refinancing my home?

Best answer:

Answer by M M
Although times have changed, you may be able to refinance pretty quickly, You’ve re-affirmed your home, hopefully it is worth more than you owe on it. If you’re employed, you may be able to refi within a very few months.

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Is it true that I have to keep my Adjustable Rate Mortgage for 2 years?

Question by spoonylarue: Is it true that I have to keep my Adjustable Rate Mortgage for 2 years?
That’s what the mortgage guy said but I’ve heard other people say I should try and refinance now. I’ve only lived in the home for 8 months. The interest rate is 8.625. Yes, I did (do) have less than desirable credit.

Best answer:

Answer by ☼Head Brainiac☼
You have to do whatever you agreed upon when you signed the papers.

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Can you keep your home from being foreclosed by declaring bankruptcy?

Question by Denise T: Can you keep your home from being foreclosed by declaring bankruptcy?
We’re trying to save our home(refinancing and brokers didn’t work) and have gotten nowhere with the mortgage company.They have already started foreclosure.The wacky part is the house is worth more then what we owe!

Best answer:

Answer by John B
Better get an attorney quick! Many times yes.

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Will mortgage advance payment lower current payment schedule?

Question by SYSMatrix: Will mortgage advance payment lower current payment schedule?
I am thinking for refinance now. The mortgage loan agent says whenever I do mortgage advance payment, my next month’s mortgage will be recaculated based on the new princial (old prinicial – the total of advance payment)

Is that true?

Best answer:

Answer by Steve
YES IT IS,AN ADDITIONAL PAYMENT ONCE A YEAR CAN CUT YOUR LOAN’S LIFE BY 8 YEARS.ONLY IF YOU HAVE A FIXED LOAN AND IS NOT INTEREST ONLY. TRY TO PAY 13 PAYMENTS EVERY YEAR AND YOU WILL SAVE SO MUCH AT THE END.

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Q&A: i bought a house with my daughter and she wants to refinance to get my name off what should I do?

Question by boo boo: i bought a house with my daughter and she wants to refinance to get my name off what should I do?
I pay the mortgage and i live in the property can she refinance without my knowlege?

Best answer:

Answer by the kid
No, she can’t. She can’t do anything without your consent.

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can you transfer your existing mortgage to a new house without having to come up with a down payment on the ne?

Question by Kevin: can you transfer your existing mortgage to a new house without having to come up with a down payment on the ne?
i have a house with a mortgage. i want a newer house that’s worth more. can i transfer the outstanding balance refinanced and not have to come up with a down payment?

Best answer:

Answer by LadyCatherine
im really thinking, no.. mortgages go with the house, you can move one to another.. you can pay off one and use the remaining balance to buy another.

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Q&A: Is it cheaper to refinance or sell house?

Question by whoanelly: Is it cheaper to refinance or sell house?
House is worth $ 100,000. Sale price is $ 97,000. I owe $ 62,000. Ex gets half of profit. So, would it be cheaper to refinance at low interest rate, take out 2nd mortgage to giver ex their share or to sell house and split profit? I want to keep house if I can since it would take a while to get a down payment for a different place to live.

Best answer:

Answer by Bostonian In MO
No way to say from the information provided. The profit depends upon how much you paid for the house, now how much you currently owe on it.

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When is PMI removed on an underwater refinance?

Question by Brian: When is PMI removed on an underwater refinance?
I am refinancing my mortgage which has PMI. The new mortgage will also have PMI. If we assume my property doesn’t drastically increase in value, when can PMI be removed from my mortgage (at my request):
a) When my refinanced loan balance is 80% of the first loan’s original amount.
b) When my refinanced loan balance is 80% of the refinanced loan’s original amount.
c) When my refinanced loan balance is 80% of my appraised home value.

Best answer:

Answer by the kid
It is removed based on what is in the contract, not a your request. Normally it would be once the loan is below 80% LTV (Loan to Value).

So C

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Has anyone ever had USDA threaten to take your home if you do not refinance?

Question by Gray: Has anyone ever had USDA threaten to take your home if you do not refinance?
They’re doing this to me. I have made payments on my home on time for 17 years and now that I am coming close to the end of the mortgage and owe mostly principal, USDA is threatening to take the security (my home) if I do not refinance within 90 days. If I am unable to get a loan then I have to prove it with letters from lenders. I don’t want to start all over on a new loan. My credit is excellent because I pay all my bills on time

Best answer:

Answer by estielmo
Why do they want you to refinance?

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Should I refinance if i owe more than my house is worth?

Question by chirailfan: Should I refinance if i owe more than my house is worth?
I have two mortgages, 1 is a 30 year fixed at 6.5% and another at 8.5% interest only. If you combine the amount i owe on both with the market, my house is no longer worth as much as i owe. However if you look at them separately, my house is worth more. Should I refinance?

Best answer:

Answer by GEEGEE
It’s highly unlikely any lender will consider you as a candidate for refinancing. They have all really tightened the reigns for just about all borrowers but someone in your shoes would be huge risk, even if you’re good for it.

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