Refinancing after filing Ch 7

What is the name of your state? Arizona

Question:
How long does one have to wait before refinancing a primary mortgage? I did a reaffirm on my primary.

[Ladynred]

It will probably take 3-4 years, possibly more, before you can get any kind of decent rate for a bank loan. It might be shorter if you're very meticulous in rebuilding your credit and keep it squeaky clean. It'll also probably take some credit repair after your discharge to get it cleaned up first.

I had a company call me the other day. As he started with his sales pitch I interupted him and told him before he wastes his time that he should know I just declared bankruptcy.

He asked if it was discharged yet and I told him June 30th is the scheduled date. He then gave me his name and # and told me that as long as it is discharged they do refinance people that just got out of bankruptcy. He explained that you do pay a couple points higher, but it can be done.

Right now I am at a high 11.49% on mine. I may look into it once everything is final, and if it could save me a decent amount of $$$ then I am going to go ahead and give it a try.

BTW it's Ameriquest mortgage.

There's lots of negative flack about them... I'll see if I can locate the website. They're almost considered in the "Predatory Lender" catagory. And chances are if they contacted you, they might have already put a "hard inquiry" on one or more of your credit reports.

Thanks for the heads up on Ameriquest.

They have been calling me for a while now, even before the Bankruptcy.