There are no mandatory waiting periods after a bankruptcy discharge nor are there specific repayment history eligibility requirements for borrowers applying for traditional or refinance HECMs. However, HECM Purchase transactions are subject to mandatory waiting periods after Bankruptcy.
Bankruptcy is a serious derogatory credit issue that lenders must consider during the credit history assessment. Absent extenuating circumstances, a bankruptcy must be viewed as a significant event that calls into question the ability of the borrower to manage his or her financial obligations.
For additional information see Mortgagee Letter 2016-10 and the attached revised HECM Financial Assessment and Property Charge Guide, Sections 2.1, 2.24 and 2.25 available at https://www.hud.gov/program_offices/administration/hudclips/letters/mortgagee