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Reload this Page Refinancing house while in chap 13?

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Old 08-23-2005, 03:49 PM
Junior Member
  
Join Date: Aug 2005
Posts: 5

Refinancing house while in chap 13?

What is the name of your state? Ca.

Would someone explain to me if refinancing our mortgage is an option while in our 24th month of a chapter 13? Do we need to consult with our attorney before trying to refinance?

Everyday we get multiiple offers sent to us about how their company can help us to refinance EVEN when in bankruptsy. Is it a scam?

Please tell me what I NEED to know.

Thank you kindly,
Baba
  #2  
Old 08-23-2005, 04:53 PM
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Join Date: Jun 2005
Posts: 315
I do not know about refi in Chapter 13, but I would imagine any funds you get above the payoffs would go to the trustee. Remember those offers come with one heck of an interest rate, so unless they are less than what you are paying then save your equity until the BK is finished.
  #3  
Old 08-23-2005, 06:38 PM
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Join Date: May 2001
Posts: 6,453
If you're paying your unsecured creditors less than 100%, there is a real chance that you will not be allowed to refi unless everyone is made whole. Talk with your attorney before you do anything.
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