Three years ago we went bankrupt ch7 since then we bought a house but at high interest is there help?

Barney
Bankruptcy was NOT a fresh start, everyone takes advantage and charges very high interest. We have a home but it is at very high interest rate and I feel we were victims of predatory lending. Is there any help 4 people who need to refinance or get back on their feet after bankruptcy but keep getting ripped off by lenders? Are there any programs to help you if you have a home loan with a predatory lender? Everyone stumbles, but it's not fair when there are vultures out there just waiting to pounce and take advantage. Has anyone successfully recovered from a chapter 7- how? All we ever got was bad advice- we are trying so hard to recover- have you been there?Thank you.

Kurt
Since you filed for a 7 you can not file again for quite some time so the lenders who are unscrupulous and greedy know they can charge a small fortune to you because of your history and because regular loans are not available to you. Some of these high risk lenders do offer a service but most are not worth the instruments they write the loans on. Here is what the government is doing to help you.Fannie Mae Loss Mitigation policies on Foreclosures https://www.efanniemae.com/is/hcounselor… Site #2 http://www.fanniemae.com/housingcommdev/… FHA Definition of terms used in Loss Mitigation on Foreclosures http://www.fha.gov/sf/svc/faqmain.cfm Government article and information on Foreclosures http://www.occ.treas.gov/cdd/spring06b/c… HUD Initiations of foreclosures, an explanation http://www.hudclips.org/sub_nonhud/cgi/n…HUD: Servicing and Loss Mitigation on Foreclosures http://www.hud.gov/offices/hsg/sfh/nsc/f… Site #2 http://www.hud.gov/offices/hsg/sfh/nsc/n… HUD: Approved House Counseling Agencies includes foreclosure issues, by state http://www.hud.gov/offices/hsg/sfh/hcc/h… HUD: Article on Foreclosure Issues http://www.huduser.org/Periodicals/ushmc… National Home Recovery Program for foreclosures http://www.nhrp.com/ Steps that can be taken to prevent foreclosures: http://www.consumerlaw.org/initiatives/s…FHA: Loan Reform programs http://www.hud.gov/offices/hsg/fhareform… Dreams Foreclosed – Scams about foreclosures – A pamphlet: http://www.consumerlaw.org/news/Foreclos…0 Government Study on Foreclosures, costs and impacts. Includes data on each state http://jec.senate.gov/Documents/Reports/… Free Foreclosure assistance – Homeownership Preservation Foundation http://www.995hope.org/Free legal aid search for all states: http://www.lawhelp.org/

Leighann
Yes there are programs. Typically you're only going to be eligible if you've had flawless credit since your release from the Ch. 7. If you have, then I'd suggest you contact a few different local brokers and banks and apply for an FHA loan. You seem like a prime candidate and the rates and terms avaialable on that program are very reasonable. Just make sure that you get quotes from several people and don't let anyone convince you that your loan will cost extra because of your past credit problem.Good Luck!

Dorothy
you can do an FHA loan if your chapter 7 was discarged 2yrs ago. You cant have any credit lates in the last 12months.Their rates for 30yr fixed are 7.25% and lower...depending on the loan amount.

Fatimah
Sell your house and rent something you can afford.