Posted on: 08th Jan, 2011 02:33 pm
filed chapter 13 four years ago owe 18,000 and are upto date , owe 96,000 on house and are upto date
house valued at 160,000.00
my credit score 657
wifes credit score 612
my wife went on workmans comp and we are now to the point of not being able to keep up , 2500.00 per month for payments right now
would like to refinance and get payment down where we keep up with everything any idea
been seeing loan companys and no one will talk to us .
house valued at 160,000.00
my credit score 657
wifes credit score 612
my wife went on workmans comp and we are now to the point of not being able to keep up , 2500.00 per month for payments right now
would like to refinance and get payment down where we keep up with everything any idea
been seeing loan companys and no one will talk to us .
seek more lenders you can get it done
It may be possible to do a cash out FHA refinance which is available up to 85% of the value.
That would allow consolidation of the Chapet 13 debt of $18,000 and the existing mortgage balance of $96,000.
Qualification would be based on your income only. Have no idea what that is, so, can not tell you if possisble or not.
If you then have no other debt, it seems your income would need to be about $38,000 annually.
That would allow consolidation of the Chapet 13 debt of $18,000 and the existing mortgage balance of $96,000.
Qualification would be based on your income only. Have no idea what that is, so, can not tell you if possisble or not.
If you then have no other debt, it seems your income would need to be about $38,000 annually.
You should have no problems getting this done. This is a simple FHA refinance but, you will have to pay off the remaining balance of the debt included in your bk.
