I've been in bankrupcty for almost 4 yrs. Looking to refi while in bankruptcy. Have an offer to refi from current 11.5%arm (which is due to increase in May/current mortgage) to 9.5%fixed along with paying $350 for an appraisal. Have a 1st and 2nd leinholder. Unsure if this would be the best thing for me to do since the bankruptcy payments will be completed in Oct.08. What should I do.:confused:

A local radio talk show host made the point that, while in bankruptcy, do NOT take on more debt. You will get abused to the maximum extent possible, because you have have ZERO leverage.

The best thing for you to do is to wait out the bankruptcy, then wait AT LEAST a year after the end of the bankruptcy, before looking to refinance. That means about January 2010.