26
2011
Mortgage Refinancing May Still be Obtained After Bankruptcy Indicates Iowa Bankruptcy Lawyer
Most people think that if they declare bankruptcy they can never get mortgage refinancing. That is not the case, as it is possible to obtain a mortgage loan after bankruptcy.
“A lot of people do not realize that they can get mortgage refinancing after bankruptcy. In fact, there are a variety of options. One of them is using a qualified attorney who specializes in helping borrowers to file that kind of paperwork. It is a good idea to have a skilled bankruptcy lawyer on your side, as they help mediate with your creditors. The ideal attorney is up-to-date and very knowledgeable about legal finance procedures and may be able to assist you in getting a good loan,” said Kevin Ahrenholz, an Iowa bankruptcy lawyer.
It is inevitable that after declaring bankruptcy an individual’s credit rating will affect the kind of loan he or she is able to obtain. A low credit score will put an individual out of the ballpark for some kinds of loans, because creditors view the low numbers with a jaundiced eye. Mortgage refinance loans may also be available, but they may also come with sky-high interest rates, because loaning to someone who has gone bankrupt is viewed as a high-risk venture.
“For this reason, check the refinancing fees first. You may make the decision at that time to wait a few years to prove you are able to handle your debts now. Doing that will put you back in the driver’s seat and you will have a chance to apply for cheaper loans,” Ahrenholz said.
In the crush of information that those who have gone through bankruptcy face, they may not know it is a smart move to pre-qualify before going for a bankruptcy mortgage refinance loan. The long and short of it is that being pre-qualified gives the individual a solid idea of how much he or she can borrow.
“From there, it’s usually just a matter of finding mortgage lenders who offer ‘damaged credit’ programs. It’s not as hard as you may think to still find a way to re-finance your home. With good legal assistance, your bankruptcy should proceed smoothly and you will come out the other side with a new perspective on life. While facing bankruptcy is difficult, it doesn’t need to be when you have the right kind of help,” Ahrenholz said.
Kevin Ahrenholz is an Iowa bankruptcy lawyer and Iowa bankruptcy attorney. To contact him, visit http://www.iowachapter7.com or call 1.877.888.1766.
Categories
Archives
- June 2015
- May 2015
- April 2015
- February 2015
- January 2015
- September 2014
- August 2014
- July 2014
- June 2014
- May 2014
- April 2014
- February 2014
- January 2014
- November 2013
- September 2013
- August 2013
- June 2013
- May 2013
- April 2013
- March 2013
- February 2013
- December 2012
- November 2012
- October 2012
- September 2012
- August 2012
- July 2012
- June 2012
- March 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- May 2010
- April 2010
- March 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009