Bad Credit Home Refinance Loans

Is it possible to get a home loan modification after bankruptcy? Can I get mortgage modification after bankruptcy? The short answer is it depends. First off, you need to know if the bankruptcy is a chapter 7 bankruptcy, or a chapter 11 bankruptcy. That may have an affect on whether or not you can get a home loan modification.

The next thing you need to understand is the particular situation you are in. When you went through the bankruptcy, did teh judge restructure your debts, or did he wipe them out so you can start anew?

Usually, and kind of credit or financing takes years to re establish after you go through a bankruptcy. So the odds may not be in your favor as to getting what you are looking for.

One thing you may need to ask yourself is why you need a home loan modification after bankruptcy. If the situation is dire, and the bank stands to lose more through forclosure than loan modification, then you may get the loan modification.

While you were in bankruptcy, you may have enjoyed some protections, but now that the bankruptcy is passed, the bank may just decide to go for the foreclosure to mitigate their losses.

Speak with a qualified real estate attorney to help you decide what your options are. Even if you cannot afford a real estate attorney, you may be able to find someone who is willing to do pro bono work. Look up your local Bar association for resources.

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