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 approval for a discharged bankruptcy mortgage you’re going to need a 25% to 30% house deposit. The larger your down payment, the better the rate of interest you’re going to be offered. Coupled with a series of credit improvements and you can refinance after bankruptcy at a favorable rate of interest. Getting a mortgage after bankruptcy before you’ve repaired your credit shouldn’t be a problem, but you can do better. document.getElementById(‘adsense_placeholder_2’).innerHTML = document.getElementById(‘adsense_ad_2_hidden’).innerHTML; Improve Your Credit Score for a Discharged Bankruptcy Mortgage One of the obstacles to home refinancing after bankruptcy is a low credit score due to the elimination of unsecured debt. Liz Pulliam-Weston of MSN Money stated: “A bankruptcy legally can remain on yo
