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I want to refinance but recently out of Bankruptcy and have a low credit score as well. Is there help

by Pderamus11713 from Prattville, Alabama. Mar 21st 2016 Reply

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

Probably not.. First, all conforming lending programs have mandatory waiting periods after certain derogatory events. For BK's, it's usually 2 to 3 years or more if there was another property involved. Also, lending programs have minimum credit score requirements as well. The only option that might work is if your current loan is an FHA loan, then there are lenders (very few) that will allow you to do an FHA Streamline refinance without a credit check. Otherwise, you're going to have to wait till you meet the minimum waiting periods and until your credit scores improve to the minimum acceptable level. 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

Mar 21st 2016
Lorne Harvey (lorneharvey)
#80 ranked lender in Washington - 432 contributions

William nailed it!

Mar 21st 2016
Jesse Stroup (jessestroup)
#4 ranked lender in Idaho - 593 contributions

FHA loans might be the best options as FHA has a two year waiting period from the Bankruptcy chapter 7. You will need to re build your credit scores as well. I hope this helps. Jesse Stroup | California Mortgage Professional | | NMLS# 6229

Mar 22nd 2016
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