How Do You Refinance A Home During Chapter 13 Bankruptcy?
Debtors who have confirmed Chapter 13 bankruptcy plans do have the option to refinance their home. It is more complicated for them than for a person who hasn’t filed for bankruptcy, but the option is there if needed. With the help of an attorney, debtors can refinance their home with the approval of their trustee. See the bankruptcy attorney. The bankruptcy attorney handling the Chapter 13 case can give the best advice as to what options are available and how to proceed. Find a mortgage company that will refinance the home. Finding creditors that deal with debtors who have filed for bankruptcy is possibly the most difficult part of refinancing a home while in Chapter 13 bankruptcy. Creditors are leery of taking on the risk of these debtors, since often they end up converting their plans to a Chapter 7 bankruptcy, and they lose money on them. Put together a new budget plan. This is done with the attorney. The budget plan will have to reflect the change in the cost of housing that will o
