@Anonymous wrote:
Bankruptcy was finalized Jun 2020. Been paying mortgage on time every month. How long before you are able to acquire a home equity line of credit?
HELOCs are subordinate to your first mortgage so the credit requirements are usually more restrictive. For example, Fannie Mae requires a 4 year waiting period post discharge on a chapter 7 BK before you're eligible. There is an exception down to 2 years if you had extenuating circumstances.
I know of one lender that follows Fannie Mae's BK seasoning requirements on HELOCs.
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