I am looking to refinance while still in my chapter 13. Can I secure all documents/applications without paying my attorney?

RickJ

Yes. Bankruptcy is public information, so the courthouse will have it all in the file for the case. Call first, though, to be sure you go with enough money in case their copiers are coin operated.

Dr D

It seems like you should be able to get copies of the paperwork from the Bankruptcy Trustee, since they have your open file. FNMA Conforming Conventional rules indicate a two year waiting period since the discharge of the Bankruptcy. FHA rules state that "A Chapter 13 bankruptcy does not disqualify a borrower from obtaining an FHA-insured mortgage, provided the lender documents that one year of the payout period under the bankruptcy has elapsed and the borrower's payment performance has been satisfactory (i.e., all required payments made on time). In addition, the borrower must receive permission from the court to enter into the mortgage transaction." Sub-Prime loans can have whatever rules they want, but be prepared to pay a premium. Good luck.

clover23

I won't assume you're applying for an FHA loan, but you can refinance into a 2- or 3-yr ARM (adjustable rate mortgage, fixed for 2 or 3 years) and pay off your Ch. 13 bankruptcy as part of your refinancing. You MUST have paid the "BK" on time - most people chose payroll deduction and it works beautifully! Your trustee will provide a payment history - since you elected to manage your debts (vs. a Ch. 7 discharge), you will be evaluated on how well you can prove you've "learned your lesson."

The time since you've filed a CHAPTER 13 will determine how long your "seasoning period" is (Ch. 7 needs the time since the BK was discharged). Depending on your credit score, Ch. 13 payment history, mortgage payment history (the FULL mortgage payment - not the arrears, if applicable), your mortgage balance, your property's appraised value, as well as your verifiable income will be evaluated as part of a thorough qualification process. This is standard operating procedure.

[Footnote: if all loan professionals had maintained these guidelines, many lenders will not be in the trouble they are now!]

luannebrown

i would like to refinance and buy out chap 13 launne brown (303) 883-9185

txhutch07

In order to refinance your home your will need to ask the trustee's permission. In order to do so a motion will need to filed with the court. Part of this will need to determine if you are taking out equity of the home the trustee would be interested it in to take care of you debt.

*Creditor Bankruptcy 10 years*

Feebasis

Can I Refiance 5 Single Houses While I Am In Ch13 Also What Happens At The End Of Ch 13 And I Do Not Refninance Because As Of Know My Rate Was Adjusted While I Am In Ch 13