So many people that have come through a bankruptcy feel relieved that their financial stress is finally behind them. It is certainly not something that they were looking forward to doing, but they had no other choice. Once the bankruptcy is behind them eventually they may come to a time where they need to re-finance their home. Now they are concerned about how their bankruptcy will affect this. Many are of the understanding that borrowing money after a bankruptcy is near impossible.
It can be difficult, and for this reason you may want to discuss this with your bankruptcy attorney. There are rules that have to be followed concerning this not only during the Indiana bankruptcy, but following it. The one thing you do not want to do is opt in for a high finance rate because you don't feel there are any other options.
You need to shop around for your re-financing. Be up front with the institutions you are talking with. Find out what their stance is on borrowers who do not have a good credit rating. There is no doubt that you will have to pay a higher interest rate because of your bankruptcy, but you may find that these fluctuate significantly amongst the various lenders. You may also find that some will want a bigger down payment compared to others.
Once you decide on the company you are going to go with make sure that you read over the contract carefully and that you fully understand it. Do not go into a financing deal that is going to put you into a precarious financial situation.