How Soon Can You Refinance A New Mexico Mortgage After Bankruptcy
How soon can you refinance a New Mexico mortgage after bankruptcy? Probably sooner than you think. There are lenders out there who will not be opposed to working with you immediately after your bankruptcy has discharged. Even so, waiting for a short amount of time could be to your benefit.
Refinancing Immediately After Bankruptcy
Though refinancing immediately after bankruptcy is possible, you will not be able to properly reap all of the benefits. With a fresh bankruptcy on your record, you are bound to be stuck paying a high interest rate. If the rate is any higher than the rate on your current mortgage, you may end up costing yourself more money. Unless you are facing foreclosure or need to borrow from your equity, taking time to rebuild your credit prior to refinancing your New Mexico mortgage is highly recommended.
Refinancing Six Months After Bankruptcy
If you started to work on repairing your credit immediately after bankruptcy, you should see some difference in your credit score within 6 months. If your credit score is high enough, this could be the optimal time to...
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