i just had a chapter 7 discharged in november i own a condo free and clear worth 100,000, im looking for a equity loan of 25,000,

Portfolio Mortgage Program available 1 day out of Bankruptcy. Loan to value and interest rate depend on credit score. Income, assets, employment verified. Bank statement program available. Minimum loan amount requirement. Ted ArkGolden Mortgage Corp NMLS# 27281Tel: 908-722-9217

It's unlikely you will find anyone willing to lend to you with a fresh discharged BK.. First, once the BK7 hits your credit report, your credit scores will drop significantly.. I know you might be thinking.."they would be stupid not to lend to me.. I'm looking for $25K on a home worth $100K".. The reality is that lenders are in the money business.. not the real estate business.. if they were to lend to you and you default.. then they have to foreclose.. this looks bad on the books, it's expensive, and takes a long time. Also, If you home sells at a foreclosure sale for more than what you owe the lender, then the lender has the obligation to return to you the overage.. So, it's not a money maker for lenders.. it's a huge hassle.. So an equity loan will be pretty much out of the question.(unless you look at hard money loans which will have really high rates and high fees and costs.. ). 4th, you might be able to do a cash out refinance, but the mandatory waiting period is 3 years for FHA.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893