Refinance Bankruptcy

Believe it or not, sometimes refinancing is the best way to recover from a bankruptcy. Refinancing to relieve pending foreclosures will help you save your house by borrowing from the built-up equity of your home. Fear not that you are being threatened with foreclosure, have a bankruptcy or delinquencies on your credit report. We have helped many people in similar situations qualify for a loan refinance and save their home.

Before we get into that, a bit of advice for getting back on track: Call and talk to the Loss Mitigation Department of your existing lender. They will tell you about some of your options but they will NOT necessarily tell you about ALL the possible options!

Normally, they will suggest a workout payment plan where you start making increased payments for some amount of time to catch up with the amount you are behind. Foreclosure is stalled and as long as you follow the plan as agreed, when you make the last repayment, the foreclosure is stopped completely.

But most people don't have enough money on a monthly basis to increase their payments. Another option that the majority of people don't know about is asking for a Loan Modification. This is going to be more complicated and there has to have been some mitigating circumstances in order for you to qualify. Basically, all past due payments are added to the end of the loan or distributed across the life of the loan.

You start making payments again a month or two after the agreement and you normally have to put down the first month payment when this