Q&A: I need help / info on refinancing mortgage while in chapeter 13 in north carolina?

mortgage refinancing
by merfam

Question by amanda s: I need help / info on refinancing mortgage while in chapeter 13 in north carolina?

Best answer:

Answer by loancareer
In this market that is going to be a near impossibility. Once you are out of the 13 it’s a different story. 6 – 8 months ago it would have been a cake walk but today??? These type of loans are part of the reason the sub prime market is non-existant today. Good Luck.

Add your own answer in the comments!

This entry was posted in Q&A and tagged , , , , , , , . Bookmark the permalink.

3 Responses to Q&A: I need help / info on refinancing mortgage while in chapeter 13 in north carolina?

  1. JUST ME says:

    You will need the trustee’s approval to refinance while you are in chapter 13. Interest rates will be very high.

  2. pearlmel says:

    bk bailouts are not that hard but it is a bit higher rate. as loang as you fall into the guidelines there are many options for you for this

  3. Mortgagemom says:

    FHA allows refinancing while in a chapter 13 bk provided you have made at least 12 payments through the court, have never been late, and have court approval. The rates are same as any other FHA deal and are very competitive. I would recommend a fixed rate.

    Steer clear of sub-prime offers to “buy-out” the bankruptcy as these will be high rates and usually adjustable rate loans.

    Find a reliable and honest bank or mortgage broker in your area to talk to.

    Here is a link to some common FHA questions:

    http://www.fha.gov/owner/afford.cfm

    Best of luck to you.

Leave a Reply

Your email address will not be published. Required fields are marked *