Home refinancing following bankruptcy: How to refinance mortgage
Most U.S. citizens are discharged from chapter 7 after just 4 months. Getting a bankruptcy mortgage or home refinancing after bankruptcy is surprisingly easy, provided that you have either a sufficient down payment or equity in your property. Home equity is the difference between the value of your home and any loans that are secured on it. Raising a sufficient house deposit can be difficult, but lenders require this equity to protect their legitimate business interests in the event of the customer defaulting on the loan.
How Much Equity is Required for Home Refinancing After Bankruptcy
Equity is more than just a sign of commitment on the part of the borrower, it makes it easier for the lender to recover its money in the event of default. In order to improve your chance of getting...