Home Modification After Bankruptcy
Do you have a situation where you need to try to get a home loan modification and you have already filed for bankruptcy?
If you have recently filed for bankruptcy there is ways to get a mortgage. The best way to do this, is to make extra efforts to increase your down payment (bigger = better) and make sure you are prepared for income verification by the lender.
Typically, lenders require a 24 month wait from the moment the bankrupcy was official until you will be considered for a home loan. However, when that 2 year wait is over, you most likely will be able to receive 100% financing for your mortgage. Keep in mind your credit score will still need to be decent. Keep up to date with payments, even minimum payments at all costs, especially after bankruptcy.
However, if you are seeking to refinance a home with bad credit loan within 24 months after bankruptcy, your credit will need to be perfect since the bankruptcy. Then, you will often still need at least a 5% down payment. The more that you have for a down payment the better chance you have of getting approved.
Here are some great ways to get some down payment money to help your mortgage approval with the lender.
Ask a good friend or a relative for a loan, pay it back in a few years after you have reestablished your credit and can refinance your morgage for a better rate and walk out with cash. The lenders require that you tell them about any loans from relatives or friends to assist in the down payment. So maybe get it in a card for a holiday instead of 1 lump sum 
Mortgage lenders have strict requirements (so they say) about where the down payment money is coming from do not get caught lying/defrauding a mortgage lender.
Search the internet for down payment assistance programs. Theres even government grants available to first time mortgage seekers. Google down payment assistance and you should have a good start.3. You could cash out a 401K or another investment and like in the first example, repay yourself with a 2nd or 3rd mortgage after the loan has closed.
Cash out old bonds, sell some stock, cash out some of your 401k. If you keep up with your credit rating
after the mortgage, you can refinance for a way better rate and put the cash back into where you got it out from. Kind of like a loan to yourself.
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