How do you refinance your home to buy out your Chapter 13 bankruptcy before your payment plan term ends?

The first thing that needs to be done in a chapter 13 buyout is to get permission from your trustee to do a refinance. I have had trustee's turn down a refinance or a purchase and even though I could do the refinance for them, I couldn't without the trustees permission. The rest of the way it's done like a typical refinance just with more paperwork, you'd need a pay history and grading from the trustee, a payoff for the remaining balance on the chapter 13.

Your rate is then based on your payment history with the chapter 13, your credit score, and how long it's been since you have filed. The more time since your filing date the higher percentage you can finance. In some cases I can obtain a 100% financing within 12 months from filing a chapter 13 depending on the payment history of your mortgage and credit score.

Naturally the rates are not going to be that of an A+ borrower but they are not as bad as many people make them out to be. If you or anyone else has any questions regarding this subject or any other mortgage related subject please feel free to contact me Thank You Edward David Sr. Loan Officer 347-254-8311 [email protected] New Answer Headline If anyone has an FHA mortgage,you can do a steamline refi with fairly decent rates.

They do not go by any credit scores. If you are in LA,FL or CA and need some help, please feel free to give me a call or check out my website JaredDaigle.com Jared Daigle Mortgage Consultant 888.989.2489 ext 13.

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