If you’re looking to Refinance after Chapter 13 Bankruptcy, I’ve got good news for you!  Contrary to popular belief, you do not have to wait 2 years to re-establish your credit, qualify for a lower interest rate or get cash out for any reason.  It is possible to Refinance immediately following discharge of your Chpater 13 Bankruptcy.  For more information call my FREE 24 hour Recorded Toll Free Message line at (800) 701-3189 ext. 320.  A new beginning may only be weeks away.  

Are you recently discharged from a Chapter 13 Bankrutpcy and NEED CASH NOW?  To hear a FREE Report on how to Refinance Now and get cash for any reason, re-establish your credit and lower your interest rate Call 24 Hour Recorded Message (800) 701-3189 ext. 320.

I can’t tell you how many times I’ve heard that over the years.  There’s no doubt that the Bankruptcy process can be a painful experience.  Bankruptcy is not, however, the end of the road.  It may very well be the end of the road for the lifestyle you once new.  Contrary to popular belief there is relief.

Need Cash?  Learn how you can free yourself and your money from the grips of Bankruptcy.  Call my 24 Hour Recorded Message at (800) 985-1827 x 369.

Positions available for Outside Sales Loan Consultants. Top Commissions. We are an FHA and VA approved lender and continue to be very busy. If you have a proven sales record and want to grow your career email me to arrange a confidential interview. 401K and health insurance available. Currently licensed to do business nationwide.

For consideration, please fax resumes to my attention at (910) 401-1010.

Good News - Recent changes in our economy is leading more Veterans towards refinancing.   Veterans can lower their interest and/or lower the loan term without requalifying for a mortgage loan.  That’s right, Veterans can refinance their home without having to verify income, without having to have their home appraised, without having to pay any out of pocket fees or closing costs.  Believe it or not, VA literally does not require an Appraisal or Underwriting Package.  However, some lenders may require additional conditions to include a credit report.  This loan is commonly referred to as a VA Streamline, IRRRL (Interest Rate Reduction Refinance Loan) or VA to VA Refinance Loan.

3 Extra Helpful Tidbits  1 - No lender is required to make an IRRRL.  2 - You are NOT required to go to the lender you make your payments to now or go back to the Broker or Lender you got your VA Loan from originally.  3 - An IRRRL may be done with NO MONEY OUT OF POCKET by including all costs in the new loan or by making the new loans interest high enough to pay the costs of closing.

Buyer Beware - Some Lenders may tell you that VA requires some or all closing costs be charged to to you andor included in your loan.  The only fee that VA requires is the funding fee of .5% of the loan amount. This fee can be paid in cash or included in the loan as well.

Some Lenders may state that they are the only lenders that are authorized by VA to lend money on VA Refinance transactions.  This is simply not true. 

I highly recommend you find a qualified VA Refi specialist to assist you with any VA transaction. As always, if you have questions, comments or concerns feel free to post a comment here or contact me directly via email. 

Filing Chapter 13 will stop foreclosures but it won’t stop ARMs from adjusting or allow changes to Mortgages secured by Real Estate.  Simply put, the Bankruptcy Courts can not change or modify the terms of your agreement with your lender, lower your balance or lower your interest rate.   Mortgage Lenders have been reluctant to modify terms for fear that they may face lawsuits from their investors.  A huge problem looms over our economy with an expected 2.3 Million SubPrime ARMs expected to adjust in 2008 causing mortgage payments to go up, usually, by hundreds of dollars.  What’s worse, many of these ARMs will continue to go up every 6 months after the teaser phase (the fixed portion of the loan terms) has passed. Fortunately their are financial solutions available.  It is possible to refinance your Adjustable Rate Mortgage while in Bankruptcy.  It does not matter if your ARM has previously adjusted.   I would, however take into consideration the timeliness of attempting to refinance an Adjustable Rate Mortgage while in BK.  Whenever possible try to be proactive in your approach to dealing with amortgage that can potentially adjust in the near future or that has possibly already adjusted.  As always if you have questions, comments or concerns feel free to post a response here, email via my website, instant message or call me via the information directly below.

Professionally yours,

Steph Love - www.StephLoveTV.com
Steph’s Blog - www.StephLove.wordpress.com
E Pluribus Unum - Out of Many, One
Toll Free Phone # (800) 985-1827 ext. 88
Toll Free Fax # (88 726-8620

Instant Messengers
MSN - StephDLove
Yahoo - StephDLove2002
AOL - StephDLove2002

I recently received inquiries concerning VA Loans and whether or not a Veteran or Active Duty member of our Armed Forces could refinance or buy a Home with a VA Loan while in Bankrupcty.  Drum roll please…………………..  and the answer is………… Yes!!!! 

VA guidelines want to see the willingness of a borrower to repay future creditors and credit obligations.  If a borrower is currently in Chapter 13 and wishes to buy a home or refinance an existing loan, it is possible if the following are applicable - 1) The Borrower has made 12 consecutive payments to the Trustee on time 2) No new deragotory accounts show up on the credit report after the filing date, i.e. cell phone charge-offs, cable collection, etc. 3) Permission is granted from the Trustee.   4) A detailed explanation for the reason the potential borrower filed Bankruptcy

There are other guidelines that are applicable as well.  Usually if you can satisfactorily pass the test for the 4 items listed above, then you’re probably in pretty good shape to start.  

If you have questions, comments or concerns, Please feel free to click here to call me post them here or contact me via email or telephone.

Professionally yours,

Steph Love - www.StephLoveTV.com
Steph’s Blog - www.StephLove.wordpress.com
E Pluribus Unum - Out of Many, One
Toll Free Phone # (800) 985-1827 ext. 88
Toll Free Fax # (88 726-8620

Within the past month or so, I have received numerous calls concerning this question.  Simply put, the answer is “YES!” I’ve taken the time to read some other posts and articles online and I’m amazed at the misinformation that exists on this topic.  It amazes me how misinformed the general public is on this topic.  What’ve even worse, it seems most mortgage and real estate professionals alike lack a great deal of knowledge on understanding bankruptcy as well.  Many of the borrower’s that I have worked with in the past and am currently working with have expressed that they’ve applied or consulted several other mortgage professionals.  They were all turned down cold or told to come back 2 years after their Bankruptcy was discharged.  

Imagine experiencing temporary loss of sight or pain in your eyes.  Would you consult a foot doctor or an eye doctor? Keep in mind, they are both Doctors. Most of us wouldn’t dare visit a foot doctor for a problem with our eyes.  We’d make sure to consult  a qualified optometrist (eye doctor).  Now ask yourself, why people don’t seek mortgage professionals who specialize in Bankruptcy, Foreclosures or ARMs (Adjustable Rate Mortgage).   They most often just call any mortgage company or professional.  What’s worse most mortgage professionals don’t specialize in dealing with Bankruptcies.

Well here’s some additional info that you may find useful when it comes to Refinancing your home while in Bankruptcy.  It is possible to refinance your home while in Bankruptcy.  It’s also possible to refinance your home while in Bankruptcy and get a mortgage rate that is comparable to current market rates.  No double digit or SubPrime rates necessary.  I thought many of you might like to hear that as well

The moral of this story is… Yes it is possible to Refinance your home while in Bankruptcy.  Whenever possible, make sure you accept, receive or seek Bankruptcy mortgage advise and/or counsel from a mortgage professional that specializes in working with Buyers or Homeowners who have a Bankrutpcy or other credit issues. 

As always if you have questions, comments or concerns feel free to post a response here, email via my website, instant message or call me via the information directly below.

Professionally yours,

Steph Love - www.StephLoveTV.com
Steph’s Blog - www.StephLove.wordpress.com
E Pluribus Unum - Out of Many, One
Toll Free Phone # (800) 985-1827 ext. 88
Toll Free Fax # (88 726-8620

Instant Messengers
MSN - StephDLove
Yahoo - StephDLove2002
AOL - StephDLove2002