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i need a home equity a second chance loan after chap. 7 bankrupty how long do i have to wait

by joetar_497_275 from Killeen, Texas. Nov 17th 2011 Reply


Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 1,823 contributions

Most lenders will not consider a new loan until two years has passed since the Chapter 7 bankruptcy was discharged. You might look to a local credit union to see what their conditions are. I hate to refer you to a finance company. They will probably do it but it will cost you an arm and a leg (very high fees and rates).

Nov 17th 2011
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

Waiting period for Chapter 7 is 2 years from the discharge date. You might want to consider your financial position before applying... Having to file for Bankruptcy is a serious decision, trying to borrow money immediately after is even more problematic.. there are credit counselors that work for non profit companies where they can help you stabilize your financial situation, and show you how to take control. WilliamAcres.com

Nov 17th 2011
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Richard Woodward (RichardWoodward)
#40 ranked lender in Texas - 106 contributions

In the State of Texas home equity lending is very regulated. Texas is the only state where you are not legally allowed to have an equity loan in excess of 80% of your homes appraised value. FHA and VA home loans are not allowed for home equity and conventional loans will require a 4 year waiting period after your bankruptcy discharge. I have never heard of finance companies doing home equity lending in Texas but it might be possible. I wish I had better news for you.

Nov 17th 2011
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Ms mary (www.loanfinancesolutionsltd)
#543 ranked lender in California - 5 contributions

we can provide you loans of any type.Contact now on: Mail: www.loanfinancesolutionsltd@gmail.com

Dec 6th 2011
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