#bankruptcy mortgage lenders
How to Reapply for a Mortgage After Bankruptcy
Part Two of Three:
Refinancing Your Home After a Bankruptcy Edit
Look into reaffirming your existing mortgage. This is usually done during your bankruptcy, but can also happened during a post-bankruptcy foreclosure. A mortgage reaffirmation is basically re-signing your original mortgage. Your loan reverts to the original terms, including the interest rate and payments. 
- Reaffirmations are complicated. While it can save your house and mortgage, it can also trigger negative financial consequences. You should not reaffirm a mortgage without consulting with an attorney experienced in real estate and bankruptcy proceedings.
Discover if you are eligible for an FHA streamline refinance. If you originally purchased your home with an FHA loan, you may be eligible to refinance it under the “FHA Streamline Refinance” program.  Conventional loans may also qualify for a streamline refinance if you can meet the same standards as anyone applying for a FHA loan. 
- You may be eligible for an FHA streamline refinance 24 months after the discharge of your bankruptcy. The waiting period can be shortened to 12 months if your bankruptcy was a result of extenuating circumstances. For example, if your bankruptcy was the result of medical bills or a natural disaster rather than poor financial management.  
Consider refinancing through a conventional local lender. The advantage of a local lender is that you can explain your situation face to face and try to negotiate a conventional refinance of your mortgage. A local bank or credit union can use other factors such as length of time as a customer, employment history, and the bank’s dedication to local housing to balance factors such as a low credit score and bankruptcy in the underwriting process. 
- A local bank or credit union may also be more likely to consider a local co-signor on your loan.
Part Three of Three:
Getting a Mortgage After a Bankruptcy Edit
Begin a savings plan. Whether you are trying to refinance a current mortgage or applying for a new loan, you will likely be faced with a 3-percent down payment or closing costs. A lender will also want to see your financial resources with your application. A savings account will reflect favorably on your credit worthiness. 
Apply for a conventional mortgage through a government-backed program. The general waiting periods for loans through Fannie Mae  is two years (reduced from four years in 2015). . Freddie Mac post-bankruptcy waiting periods are stricter and can range up to 60 months depending on the circumstances of your bankruptcy. 
- Conventional mortgages through Fannie Mae and Freddie Mac have complicated requirements for income, employment, and credit history. A mortgage professional can assist you in determining your qualifications.
Explore the home-buying options through the Neighborhood Assistance Corporation of America (NACA).  If you live within an area served by one of the 40 national offices,  you can attend a free seminar to learn if the NACA program may be able to help you purchase a home. 
- The NACA is a non-profit organization that acts as a bridge between potential homeowners and banks. If you can adhere to their guidelines, you may qualify for a no-down payment, market rate conventional mortgage. NACA programs are designed to keep buyers with credit issues from falling into predatory loans. 
- A NACA counselor reviews your cash flow and savings patterns and helps you establish healthy habits. It typically takes up to two years to get through the NACA program.
How to Get Jobs After Being Self Employed
How to Compare No Down Payment Mortgages
How to Refinance Your Mortgage
How to Create a Mortgage Calculator With Microsoft Excel
How to Choose a Mortgage Broker
How to File Bankruptcy in the United States
How to Buy a Home After Filing Bankruptcy
How to File Chapter 7 Bankruptcy Without a Lawyer
How to Buy a Car While in Bankruptcy
How to Rebuild Credit After Bankruptcy