Reply
Member
Posts: 10
Registered: ‎02-21-2008
0

Refi after BK - FHA or HARP

Can anyone help with the guidelines regarding these 2 types?  We will be 2 years out of BK on 12/31/09 - our current mtg is with WF, who is no help, as I keep getting different answers.  I was told I could refinance through HARP, regardless of how long ago we were discharged; now I'm being told it has to be 4 years from discharge.  For FHA, I was told we could start the process now, but it can't close until 2 years from our discharge date - now another rep is telling me, we can't even start the process until after 12/31.  Can anyone clear this up?

 

Thanks!!

Regular Contributor
Posts: 179
Registered: ‎09-23-2008
0

Re: Refi after BK - FHA or HARP

I don't have an answer for you but you might want to post this over on the mortgage loans threads...you're likely to get more answers there.
9/26/08 TU: 528 EQ: 558 EX: 560
11/7/08 TU:584 EQ:601 EX 600
7/21/09 TU:636 EQ:626
12/27/11 TU: 675 EQ:680
New Member
Posts: 23
Registered: ‎11-04-2009
0

Re: Refi after BK - FHA or HARP

I wouldn't plan on getting a mortgage anytime soon. Yes FHA says 2 years from discharge date BUT FHA only insures the loan and that is only a guidline. Banks are not lending money Period. Unless you have a ton of equity in your home I wouldn't bet $10.00 that you will be approved by any bank with any program. Whats your fico? If it isn't at least 700 I wouldn't bother trying.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.