Anyone Refinance while in Chapter13

Discussion in 'Credit Talk' started by Steve1040, Aug 25, 2003.

  1. Steve1040

    Steve1040 Active Member

    I live in Missouri
    I've received permission from the court to obtain a loan in the amount of 140,000.

    Do you guys know of a mortgage Co that will refinace me. Everyone I call states they don't refinance people in BK. My interest rate is 9.5%
    I have a FHA loan but the streamline process isn't offered because my plan provides that the arrearange interest isn't scheduled to be paid until 2005.

    Please help if you can.

  2. Steve1040

    Steve1040 Active Member

    ^Bump - Anyone???????
  3. LisaMc

    LisaMc Well-Known Member

    I have a CH 13 bk that will be finished 12/03. We have an 8% fixed conv mortgage. I wanted to refinance with an ARM. Got a really great broker who worked his heart out trying to get us refinanced. No one would take it until the bk was completed. Several would take it 1 day after discharge at a lower rate than 8%. I, too, got permission from the trustee to do this. He said "if it saves money, I approve." I guess we are just going to have to wait until December. I hate that we missed the lowest of the low rates. Hopefully they will stay low a while longer. Our broker said that there was language in the rules for conforming loans that made a CH 13 in progress very iffy for a refinance. Whether they could refinance and chose not to, I don't know. Good luck. Let us know if you work it out. I would love to know!

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