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I am wondering if I can refinance while I am still in Chapter 13? I have just about 2 years left but would like to take advantage of the low rates.
12 ANSWERS
William M Stoddard
Probably not. Contact the Chapter 13 trustee. If it would free up assets to pay off the plan faster, he might agree to try.
Answered on Oct 07th, 2013 at 3:53 AM
Yes if a lender works with you and the bankruprcy trustee allows it.
Answered on Oct 02nd, 2013 at 3:50 AM
2 Awards
Yes, you may refinance while in a chapter 13 but must receive Court approval to do so.
Answered on Oct 01st, 2013 at 4:31 AM
Yes, you can refinance your home after giving notice to all creditors and getting approval from the Chapter 13 Trustee.
Answered on Oct 01st, 2013 at 4:18 AM
Debt Settlement Attorney serving Chicago, IL
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Law Offices of Daniel J. Winter
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You may be able to refinance while in your current Chapter 13. You have to consult with your attorney, and provide the refinance application. Then he or she will have to petition the court for permission to do it. Depending on the terms of your refinance, your Chapter 13 plan may have to change also. It is important that you talk to your attorney, and if you don't have one, you should contact an attorney experienced in Chapter 13 bankruptcy.
Answered on Oct 01st, 2013 at 4:12 AM
Personal Injury Attorney serving Glendale, CA
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JT Legal Group
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Refinancing while in a bk is tougher than one would expect. However, it is possible. I would not meddle with it without an attorney.
Answered on Oct 01st, 2013 at 3:36 AM
General Law Attorney serving Cherry Hill, NJ
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Mark S. Cherry, Attorney at Law, PC
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Yes but it would require Court consent. Good luck finding a lender.
Answered on Oct 01st, 2013 at 3:33 AM
Yes, but you must Court approval before doing so. Check with you attorney for more details. Take care.
Answered on Oct 01st, 2013 at 3:30 AM
Chapter 7 Bankruptcy Attorney serving Milwaukee, WI
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Law Offices of Deborah A. Stencel
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In theory, yes, you can re-finance. You will need permission of the court and/or trustee to proceed with re-financing.
Answered on Oct 01st, 2013 at 3:14 AM
Deborah F. Bowinski
Speak with your chapter 13 attorney - the procedures for and consequences of such a refinance may well vary from one jurisdiction to the next.
Answered on Oct 01st, 2013 at 2:58 AM
It can be possible to refinance while in a Chapter 13 but you need to find a lender willing to do so and obtain court approval. Many times the change in your mortgage payment may result in you having to make a higher plan payment.
Answered on Oct 01st, 2013 at 2:52 AM
You have to get permission from the Court and\or the Trustee (depending on the jurisdiction) to refinance. If a refinance is in your financial favor, it probably could get approved. But since you are in bankruptcy, you might have difficulty getting the lowest interest rate.
Answered on Sep 30th, 2013 at 8:17 PM