Have you been through a bankruptcy? Have you wondered whether you could possibly refinance your mortgage loan or even obtain a new mortgage after your bankruptcy? You will be pleased to learn that there are mortgage lenders that will help you obtain a mortgage loan and even save you money by lowering your monthly payments. Local mortgage lenders are ready to help you find the best refinancing package available for your special circumstances.

Having to file a bankruptcy does not have to mean you are stuck with a high interest rate and less than desirable mortgage terms. Mortgage lenders will consider refinancing mortgages after bankruptcy because the risks involved in refinancing mortgages are extremely low. When we say refinancing mortgages, you are actually obtaining a new mortgage loan with current best mortgage rates.

Refinancing your home, even after a bankruptcy, is not impossible any more. You can lower your payments, consolidate bills and actually improve your financial situation. You can often get extra cash for that well-deserved vacation, fund college expense, and be well on your way to financial recovery. The difference could mean thousands of dollars in your bank account over time. Refinancing a mortgage, after bankruptcy, on your home is the best way to take advantage of the lowest interest rates in many years.

Mortgage lenders have hundreds of loan programs that will help you meet your financial goals. One of the easier loan products to qualify for is the FHA mortgage loan, where for the first five (5) years of the loan, you are paying a premium for mortgage insurance that protects the lender in case of default. After the initial five years, that premium drops from the loan payment. There are many mortgage investors and mortgage lenders that have many other mortgage loan programs available. These lenders are the experts, all you need to do is get in touch with a lender you are comfortable with and they will handle and explain the process with you.

Under federal law, you always should receive a Good Faith Estimate of Charges and an Estimate of Truth in Lending within the first three (3) days of the credit application being completed, which will explain all costs involved and how much your payments will be. If you don’t get this information, keep shopping! This information will help you to make the right decision and it’s the law.

There are several reasons that it is easier now to qualify for mortgages after bankruptcy. If you think about it, you have eliminated your other debt through the bankruptcy which gives you more ability to make your mortgage payments. Through the bankruptcy, you have maintained either your mortgage payments or your rent payments on a monthly payment history which has helped to reestablish a payment record. And, in most cases, whatever caused the problem/expense that caused the bankruptcy should be behind you and you should be ready to start over to build back up your good credit standing. Refinancing mortgages after bankruptcy on your home or taking out a new mortgage to buy A home, is the best way to reestablish your credit.

Michael Domeck was a multiyear sales and listing award winner for Century 21 and has designed and built many homes over the years. His wife has been doing mortgage financing for over 20 years. Together they can show you what all the "mortgage hype" is all about. Find out the secrets to getting the best mortgage financing at the best rates and the lowest fees. Learn why re-financing may NOT be the best way to go and why! Visit: Free Advice Mortgage Re-Finanacing to get Free Advice on Mortgage Refinancing, Mortgage loans and how to handle credit problems!