Posted on: 27th Mar, 2010 06:46 pm
i filed chapter 7 bankruptcy in november of 2008 i am currently still in the home and am making the payments on time. i did not reaffirm the debt so the minute i stop making the payments is when they will start the foreclosure. i an finding that i will not be able to make the 2500 payment much longer and i am wondering what my options are to get a new home or if i can refi with a differnt bank at a lesser amount(short sale) which in turn will make my payment lower as of right now my rate is 9.1% please give me advice as to what i can do. denea
as you filed bankruptcy in 2008, you won't be able to qualify for a loan now. as far as refinance is concerned, i don't think you would be able to get it as you haven't reaffirmed the loan. as you haven't refinanced, you are not personally liable for the loan now. no lender will be ready to refinance the mortgage if you aren't personally liable for it.