How do you find a mortgage company to re-finance you if you are in a Chapter 13 bankruptcy so that you can come out of the bankruptcy?

You do not need perfect trustee payment history to be approved for a refinance of a Chapter 13. With a dismissed Chapter 13 I can go to 75% LTV Full Doc. The information I see proliferating on the internet is erroneous.

If you have perfect payment history to your trustee this improves your LTV(loan to value) max. I.e. Someone who never missed a trustee payment will have a max LTV cap of 90%, where someone who has missed payments will be downgraded to 80% LTV. The better the trustee payments, the better the interest rate, and options available.

You Do not NEED a perfect pay history to your trustee to get a mortgage. I stress the fact that you can have 120+ unlimited lates and as long as you can document you income I can go to 75% LTV. Any loan officer that tells you that a loan can be wrapped up in 3-4 weeks in a state that requires a motion to be filed for post petition refinancing(Not all states require a motion, some states a trustees ok is all that is required) is lying.

Motions to approve post petition refinancing are heard twice a month. Some motions are required to be filed in advance by 30 days I.E.Motions for stay relief etc... You need a loan officer that TRUELY knows what their talking about Answer I am a loan agent, I can re-finance out of 13. You will not have had to be discharged out of 13 but you will need to have made your trustee payments on time.

If you have done that so far, a specialized mortgage broker can refi you out of 13 with the proper lender connections and court tools. The best thing is that the lender will expect you to have a Low FICO score. I must tell you that most brokers do not handle these cases do to the degree of difficulty regarding Chapter 13 refinancing so be prepared Answer When refinancing out of a chapter 13 you should expect the proceedure to take about 6 weeks.

The first thing is permission from the courts. Contact your trustee and get "permission", a payoff and also a payment history of your payments to the trustee. The next thing to do is to request a payoff from your mortgage company.

You do this by calling the customer service line and having the payoff MAILED AT NO CHARGE and also request a payment history. The only other things you really need are the normal loan application items.2 years w-2's, 2 months of bank statments, and any other income documentation that you can provide such as child support, alimony, or any rental, annuity, or social security documentation. I am not a loan officer but have been in the business (banking/mortgage) for almost (oh my!

) 20 years. I have gone throught this personally and help at least one or two people do these types of loans a month. I have a few places that are licensed in most states that I can refer "BK buyouts", so although I do not personally do the loans I have sources to people who are very good at whatthey do and will make process as "painless" as possible.

Please feel free to email me or call me at my work number x135 and I will guide you in the right direction. Remember you do not have to be penalized for past mistakes or poor credit history forever and there is hope Answer I have been a mortgage loan officer for over 10 years and I have helped many people refinance out of a chapter 13 during that time The process is really quite simple and depends mainly on equity in the subject property and a favorable payment history to the trustee.In most cases, I can get the refi wrapped up in as little a 4 weeks Please do not hesitate to contact me directly for further information.

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