Can anyone give me the names of mortgage companies that will refinance a mortage while in Chapter 13? I know it's done, it's just a matter of finding one. Thanks.
Fullspectrumlending.com. The main factors they look at are post petition (on-time) payments, and if there is enough equity to get you out of the ch 13.
I don't think I want out of the Chapter 13, that gives all my creditors a chance to nail me. I'd have to pay interest fees, late fees, and everything else they can think of since I've been in the bk. I know I can refinance and stay in the 13, I'm jut not sure who will do it.
It is my understanding that if you refi the mortgage whatever is left in the plan continues. You will continue to make your plan payments until the plan is complete. I know this first hand. I made the mistake of after doing a refi, stopped my plan paymnts, my ch 13 case of dismissed and all the creditors left in the plan came after me.
Yup, that was one my plan, to refi the mortgage and keep paying the rest through the plan. Did you use Full Spectrum to refi when you were in your 13?
I tried Full Spectrum, it's a no-go since I ahve only a few thousand dollars in equity in my home. Thanks for that tip.
That's was exactly my situation at the time, not enough equity. That will probably be the problem with many lenders you try. But you might want to ask the gentleman who was listed on another post for "mortgages with low credit scores". He stated they have many programs- it's worth a try (Richard@eloandealer.com)
If you're trying to do a re-fi in order to get some funds out of the equity in your house you must have permission from your bk trustee. If you're trying to re-fi to get a better interest rate...you probably won't get it and plus you will be out the app fees which could be $150-$200 depending on the lender. clc
SAMC: most underwriting guidelines require that the Chapter 12 be paid at close, and yes there is sometimes an early termination fee that you will have to pay for getting out of the BK. Sometimes the best thing to do is to wait until the Bk is paid, then look for the next step in refinancing. You did not stete why you were looking to refi either? I am just stating this becuase I work with over 800 different lenders and all would require the BK to be paid at close. BB AHMCC
