Posted on: 17th Mar, 2010 04:16 pm
hello. i am in trouble. i have a 30 yr fixed %12.5 loan on a manufactured home for $38,000. although the payments are low, i want to refinance to a better rate, lower payments. payment history is excellent, but i'm in bankrupcy. not forclosure. are there any resources out there for me? please advise. i could use more money but that is not my goal. i'm looking for the names of companys who would deal with me. i am disabled but work part time as a caregiver. my husband is currently unemployed. it's pretty bad. thanks for your time.
Hi pipnbugs,
As you are in bankruptcy, it won't be possible for you to get a refinance. Lenders will not consider you for a refinance unless you have been discharged of it. Also, you should remember, that depending upon the type of bankruptcy you file, you will have to wait for 2-4 years in order to get a refinance.
Thanks
As you are in bankruptcy, it won't be possible for you to get a refinance. Lenders will not consider you for a refinance unless you have been discharged of it. Also, you should remember, that depending upon the type of bankruptcy you file, you will have to wait for 2-4 years in order to get a refinance.
Thanks
Dear James. Thanks for your quick reply. Not knowing much about the financial world, would I qualify for a loan modification? It looks like I'll lose the house if I don't do something. Wouldn't someone want to pick up this small loan, especially with the GOOD his0tory with paying my monthly notes. Could I seriously be stuck with my current situation? I really appriciate your time. Thank you very much.
It would be completely your lender's discretion as to whether or not he would give you a loan modification as you are in bankruptcy. However, you can contact your lender after your bankruptcy is discharged and apply for one. In that case, there are high chances that he may consider your request for modification.