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Told cannot refinance mortgage due to BK

Established Member

Told cannot refinance mortgage due to BK

I filed chapter 13 in 2010 and it was discharged in 2011.   Never late on my mortgage, which is a FHA mortgage.    I heard about a streamline FHA refinance and went to my current lender, Chase.    As soon as they heard I filed BK, they said no.    Is that just Chase?    Where can I go to do this, any ideas or suggestions?

Message 1 of 3
Senior Contributor

Re: Told cannot refinance mortgage due to BK

FHA's guideline may allow a refi but the actual lenders may still say no. Lenders superimpose their own criteria on top of FHA's criteria. I recommend that you talk to a mortgage broker as they deal with multiple lenders and most will do FHA guaranteed loans.


This week, FHA just reduced the waiting period for mortgage qualification after haveing had a foreclosure, short sale, bankruptcy. You can now qualify in as little as 12 months. Maybe the refi rules have been relaxed too.

Message 2 of 3
Established Contributor

Re: Told cannot refinance mortgage due to BK

I just posted an answer to this in this thread over here:


Basically, Post BK, you modify the original loan (w/o reaffirming) rather than get a new one.  Chase rules for mods (but read that whole post).



I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of Late January 2016 All 700+. Last CR pull from a lender(housing) was mid-score 749.
Goal Score: 700+ - reached.
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