I am looking to get a home equity loan but i have a 3 year old Chapter 7 bankruptcies

Your best bet would be to contact a mortgage banker/broker in your area. You may also want to look into hark money loans or sub-prime lenders.

I would also suggest checking with a local credit union or smaller local or regional bank. There are not a lot of home equity programs out there right now, and not many brokers will have much to offer quite honestly. If you have a banking relationship with a local or regional bank or CU that is where you want to start. Lots of people have had a tough time the last few years so stand tall and ask. Go in with your income and asset information and be realistic about what your home is worth (you might want to ask a local Realtor what they think it would sell for). You probably won't be able to borrow over 80-85% loan-to-value (the combined amounts of your existing 1st and your new home equity loan). You might also want to check your credit report to be sure all the charged off accounts are so noted. Beware of anyone offering to do credit repair, that is usually a rip off.

To get a home equity loan you would need to call the various banks in your area. A mortgage broker will have limited resources. You may be limited on options with your BK being 3 years old but depending on the rest of your credit history and loan and value will determine what can be done.

Finding a HELOC after a BK7 is going to be difficult.. Most lenders offering that type of financing will want to see 4 to 5 years.. some even more.. You could however do a cash out refinance through FHA up to 85% LTV.. if you wait another year, you can do a cash out refi using conventional financing up to 80% on an owner occupied property.. Also, if you have a relationship with a local community bank or credit union, it's possible they might have relaxed guidelines and allow you to do a HELOC now.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347