HELOC after dismissed Chapter 7?
I was trying to get a HAMP for about a year. Just before I was to get a modification finalized the bank said they were "out of time" to make a decision and they were going to sell my home on the Court steps on Dec 5, 2013. In order to keep from losing my home, I had to file Chapter 7 Bankruptcy. I filled a "skeletal" petition. I had to file or lose my home. Of course about two weeks later the bank granted a modification and I kept my home. I never filed the full petition or filed further papers and the Court dismissed it. I did not have to "re-affirm" my mortgage because my BK never completed. There is no discharge date since it was dismissed. However, it does show on my credit report as a BK that was dismissed.
I have good assets and income. I own three rental properties outright. I cannot get a mortgage on those because of Fannie Mae's 7 year bankruptcy rule on investment property. I have plenty of equity in my home and I'm looking to get a HELOC with 70% LTV. My income is good and DTI is low. I do not want to re-fi because I have a super low rate for the life of the loan. I saw that Nationwide was doing HELOCs but they have discontinued them. Does anyone know of an actual bank or lender that will work with my situation? Is anyone a broker or lender that can work with me? Thanks in advance!