Refinancing mortgage after Chapter 7

[Anonymous]

So Wells Fargo is deciding not to report my mortgage after Chapter 7 even though I make my payments every month on time. The law apparently allows them to do this if you do not reaffirm. Lawyers' advice was not to reaffirm track payments and refinance later. 

Has anyone refinanced their mortgage after Chapter 7 and if so which bank?  How long after Chapter 7? I heard there is a four-year waiting period for conventional loans.

Also, has refinancing been difficult after chapter 7?

Knighttrader

[simplegirl]

I would get this moved to mortgage loans for responses.

[gdale6]

The mortgage was discharged in the BK without reaffirmation. There is a 2 yr wait for FHA loans, not sure on conventional. Might want to check with a mortgage broker to see what they have to say.

[Anonymous]

Minimum waiting period on conventional loans is 4 years after DISCHARGE date. After four years, you should have a reubilt credit history and approval should be pretty simple.

FHA is 2 years must have elapsed since case number assignment date.

[aimhigh508]

I purchased at home approximately 2 1/2 years post chapter 7 discharge. I owned a home at the time of BK and the mortgage was not reaffirmed nor were the mortgage Payments reported on my credit report. 
When I went to apply I was only eligible for FHA and all they requested was 24 months of on time payment history through a print out of my mortgage statements. 
i am now in the process of a stream line refi as the rates have dropped. 

[krielly]

You don't mention what your primary reason is for refi after your BK.

If you are only considering a re-fi to get your mortage to report, it may not be a good idea. 

Unless you have considerable equity in your property, it may not make sense to financially re-obligate yourself to this debt.

K