Posted on: 06th Oct, 2010 06:16 pm
ok..i just got thru bankruptcy ch 7, it's been discharged, i am disabled on a fixed income, i have a 30yr mortgage with bank of amer. which is 6.50%....the problem i'm having is. i got myself ( yes i take the blame) screwed with a home equity loan thru american general finance...oh they told me all kinds of stories about how i could refi after a couple of yrs at a lower rate..well 3yrs later i'm paying a radiculous interest rate, how do i refinance this mess ( just the equity loan)..is there any help out there..or do i let them put a lien on my house....house is worth 80-85k, 1st mortgage is 53k, and the equityloan bal is $14, 600.
Hi pamaher!
Welcome to forums!
Didn't you include the home equity loan in your bankruptcy filing? If yes, then you're not personally liable for the mortgage unless you've reaffirmed it.
If you haven't included the mortgage in your bankruptcy filing, then you won't be able to get a refinance immediately after the bankruptcy discharged. You may have to wait for a year or 2 to refinance the loan.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Didn't you include the home equity loan in your bankruptcy filing? If yes, then you're not personally liable for the mortgage unless you've reaffirmed it.
If you haven't included the mortgage in your bankruptcy filing, then you won't be able to get a refinance immediately after the bankruptcy discharged. You may have to wait for a year or 2 to refinance the loan.
Feel free to ask if you've further queries.
Sussane