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Equity Loan - 6 months post C13

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Equity Loan - 6 months post C13

Anyone know of any banks that might be able to lend based on this?

 

Looking for a Equity Loan on my property:
 
Here’s my situation:
Discharged Chapter 13 on August 2014
Single Family Home in Oregon
1st Mortgage - $212k - no other liens.
Zillow Value $256k
Verfiable 80k/yr income.
 
TU Score - 633

 

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1 REPLY 1
ShanetheMortgageMan
Super Contributor

Re: Equity Loan - 6 months post C13

Most 2nd mortgages are looking for very good credit and no BK's for 7 years.  There is a bank here in California who is approving 2nd mortgages with a BK discharge at the 5 year mark, but not sure who would be doing them just 6 months after a BK discharge.  Most 2nd mortgages are looking for 680+ credit scores too, although I know PNC Bank will go down to a 650.  You could do an FHA cash out refinance to 85% LTV, but you wouldn't get much cash out as you are already pretty close to that LTV.

Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
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