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Can you HARP if you are in bankruptcy?

by jds217790 from Saint Louis, Missouri. Oct 27th 2015 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,727 contributions

More info needed.. BK 7 or BK 13?.. if it's a 7, then no.. if it's a 13, then you would need to wait till you have made 12 on-time payments, and then you would need permission from the trustee handling your BK as well as meet all other loan qualifying eligibility requirements.. This is where it gets tough.. Because your in BK, then more than likely, your credit scores have dropped substantially, and lenders have minimum credit score requirements in order to qualify.. Also, because your in BK, you have to have strong compensating factors in order to obtain an automated underwriting approval. Without looking at your complete loan profile, it's very difficult to say for sure, so for this reason, I suggest you .. contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 NMLS# 226347

Oct 27th 2015
Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,247 contributions

Good answer from William. The details make a BIG difference, BK makes it much more difficult but not impossible.

Oct 27th 2015
Bartolomeo Castelli (BartCastelli)
#33 ranked lender in Missouri - 1,056 contributions

William could not have said it any better than that in regards to the BK issues. If you are in Missouri or Illinois, please reach out to or my cell at 314-712-7474.

Oct 27th 2015
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