Bankruptcy & Residential Morgage Insurance
December 26th, 2005 by Questions
My wife and I were granted absolute discharge from personal bankruptcy in 1998. Since then we re-established our credit, the bankruptcy was deleted from our Credit Report, and we bought a residential property.
Recently we applied to a bank to re-finance our morgage. Our application was approved subject to approval from CHMC/GENWORTH to ensure the morgage. GENWORTH aka GE CAPITAL declined to ensure our mortgage on the pretext that we defaulted almost 10 years ago on a real estate, which by the way, we bought as a rental investment rather than as a primary home.
A.can GENWORTH, which I believe is a semi monopoly refuse to ensure our home in spite of the fact that we obtained ABSOLUTE DISHARGE and our Credit Report is clean? If the banks are willing to evaluate our application based on our current credit record why not GENWORTH?
B. What can we do to appeal this unfair treatment, which may result in the loss of our home?