Have You Filed Bankruptcy, And Are You Wondering, “Can I Apply For A Loan Modification After A Bankruptcy?”
The answer is yes. You can still apply for a loan modification after a bankruptcy. Sometimes using a bankruptcy and loan modification in combination with one another can achieve the most desirable outcome in helping you save your home from foreclosure. This is especially true if you could not get approved for a loan modification before filing for bankruptcy. It is likely that trying to get a loan modification was your first course of action, but for whatever reason, your application was denied. Then you filed for bankruptcy. The wonderful thing about bankruptcy is that once you file, you can then (re)apply for a loan modification with better chances of being approved for one.
Why Should I Apply For A Loan Modification If I Already Filed For Bankruptcy?
A bankruptcy opens up the possibility of getting a loan modification if you couldn’t obtain one the first time around. More importantly, a loan modification can adjust the terms and payments of your bankruptcy and make it more reasonable.