You can certainly refinance your home mortgage after bankruptcy. If you've filed for Chapter 7 bankruptcy, you can refinance very soon after your debts are discharged. If you're going through Chapter 13 bankruptcy, you can refinance within six to twelve months of making your regular payments.

It's wise to wait, however, until you've had time to rebuild your credit score. This will help you get a better rate, and you may not need to wait all that long if you're actively rebuilding your credit.

You can get started rebuilding your score by paying your bills regularly, getting a savings account, and opening a credit card with a low spending limit. Once you’ve reestablished good credit history over the course of at least six months, you can begin the process of refinancing your mortgage.

Research different lenders and compare rates online to find the right deal for you. Due to your bankruptcy, you'll probably need to go with a sub prime lender. Expect to pay slightly more than a regular mortgage.

Take interest rates as well as fees into account when making your decision. Typically a lower fee with a little higher rate is the better deal. You can refinance again in two years to get a lower interest rate. This will give you time to improve your credit even more.

Castle Law Office has been handling bankruptcies for Kansas City clients from more than 14 years. If you need the fresh start bankruptcy can provide, call us today at 816-842-6200 to speak with an attorney. Or click here to email us and schedule your free consultation.

Additionally, we offer clients a course to help you increase your credit score, even after you've filed bankruptcy. In as little as one year, you could improve your current score to a 720 or A rating. While it typically costs $1000 for this course, our new bankruptcy clients get access to this powerful resource for FREE.