Refinance after bankruptcy is pretty much like substituting it with a completely new mortgage. And second mortgage is one such option for you. It’s good for you to know that you can actually refinance with second mortgage even though if you are suffering from bad credit. So look out for good reliable lender and work on refinancing.
For more on bankruptcy mortgage refinance and second mortgage refinancing, log in to: respectively.

Also use a free quote service such as to get quotes from at least 3 – 4 lenders. that way you will know where you stand, and will be better informed to make your decision.

I was once in your situation. Don’t worry, everything will work out for you =)

A year ago I found this organization that gives people up to $1500 in renter or mortagage assistance! They operate in most US cities, I highly suggest you try to get some of this money.

Good Luck!

I would have to say yes to both of your questions. You can refinancing your current home and pull cash out to put down on the new home. You can also rent out the current home to off set your monthly obligations. So, you will be getting cash out the home and getting a tenant to pay your current mortgage. But, if you can get a tenant to rent out your home in the time you have to move. Your mortgage lender would simply have to make sure your debt to income ratios will allow you to take on two mortgages. As for the BK most lender would require you to have it discharged for at least 24 months. The lenders that would allow you to get a loan with a BK discharged for a couple of day would give you a higher rate as well as a lower loan amount. Which basically means you’ll have to put down more money then you’d like too.

Texas bound eh? Welcome to a whole ‘nother country! I relocated to Ft Worth two years ago from San Diego. I like it here, especially every month when I pay my tiny little mortgage payment! As for the cash out thing, 2nd mortgage lenders are really tight on recent prior BK’s. If you have a lot of equity in your home, you can get something decent and get a good loan on your new residence. Are you thinking of keeping the old place as investment? Or just using the equity to move, then sell after you get here? There are a few considerations you have to make. More than I can go into here. I would be happy to help answer questions and share some of what I have learned. Feel free to contact me at

That depends on a few things.

How much equity do you have in your current home?

What is your credit score?
What is your debt load?

Yes you can get a 2nd mortgage on your current home to buy another, people do it all the time.

Your income must support maintaining your current home (you should be able to get a renter in there to offset the mortgage payment or some portion there of) and support your new mortgage.

You can get a loan with a BK. Many lenders require it to be discharged for 2 years, however, there are still a few lenders that will lend on a BK only being discharged 1 day.

In a nutshell, yes you can, if all your other ducks are in a row.

Good luck