QUESTION
Would another lender be able to do the refinance with cash out?
Asked on Aug 30th, 2016 on Bankruptcy - Nevada
More details to this question:
I am trying to refinance my mortgage loan with cash out but am told I can't because my mortgage loan was not reaffirmed after my bankruptcy 5 years ago. I owe $72,000 and it is appraised at $155,000.
2 ANSWERS
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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The same lender can't refinance a mortgage that wasn't reaffirmed in bankruptcy but any other lender can.
Answered on Sep 26th, 2016 at 5:34 AM
It is pretty common for a lender to refuse to refinance a mortgage after you have been through a bankruptcy, Why they claim they will not do so because of a failure to reaffirm is comical, because it was up to them to offer you a reaffirmation, and for some reason, they forget that they did not make you this offer.
Answered on Sep 23rd, 2016 at 5:38 PM