Forgotten Your Password?

Need to Register?

Question Icon

Have been out of bankruptcy for about 6 months, property worth 155,000 need equity line of credit, balance on property 11,000

by mblrobinson3803 from Mobile, Alabama. Nov 3rd 2015 Reply


Tom Lewis (Tom@TJH)
#16 ranked lender in Alabama - 16 contributions

There are programs that will allow for a refinance on your home with a recent bankruptcy (chapter 7 and 13). We don't have a line of credit program (for this scenario), but a cash out refinance is available. If you would like to discuss further details regarding programs please feel free to contact me anytime. Tom@thamesjackson.com

Nov 4th 2015
1
0
William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

All conforming loan programs have mandatory waiting periods for major derogatory credit events.. There might be a hard money lender out there willing to do it based on your equity, but if you want reasonable rates and fees, you need to wait 2 to 3 years.. 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 WilliamAcres.com NMLS# 226347

Nov 4th 2015
1
0
Christina Hayes (CreditRepairExpert)
#8 ranked lender in Tennessee - 68 contributions

Did you keep any of your revolving accounts? Have you looked at your credit scores?

Nov 4th 2015
0
0
Mark Hemingway (SFSLend)
#1 ranked lender in Colorado - 1,011 contributions

This wil leb very difficult as line of credits will be in the second position and therefore more strict in regards to time of BKs and other credit issues. You would be best to refinance the first with that much equity and get a fixed rate But again you need a mortgage professional to take a look at your credit and determine what you can qualify for in regards to a loan.

Nov 5th 2015
0
0
Subscribe to our news feed.