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Within the next week I should get dismissal of my bankruptcy. Should I apply for HARP?

by ccarson208 from Austin, Texas. Sep 26th 2016 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,041 contributions

Much more info needed to address your specific scenario, however you can, but it's unlikely you would qualify.. Although the guidelines for HARP will allow for borrowers with BK's, even BK's one day out of discharge/dismissal,,, But there are a few problems you will be faced with.. First, if it's discharged next week, it could be 90 days before that shows on the credit report.. the other problem is going to be your credit scores.. HARP still qualifies you through an automated underwriting system.. they look at your complete loan profile.. debt, income, credit scores, payment history, public records etc... In your scenario, you have a very recent dismissed BK.. this will most likely kill your credit scores.. Another problem you are faced with is that HARP ends the last day of 2016, and I'm unaware of any plans to extend it.. so unless you can qualify for HARP this year.. you might need to wait 2 to 4 years to qualify assuming you have sufficient equity.. 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

Sep 26th 2016
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,565 contributions

HARP has been through September 30, 2017. So you have time. I agree with William. There is so much more to getting loans than. My suggestion would be to wait a little bit so that it shows on credit reports, etc., as being discharged or dismissed.

Sep 26th 2016
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