Hi 4Papa,
No, you're not out of luck.
I don't know who your source was, but they're incorrect.
You can refi during your BK with trustee's approval.
One thing I would mention is to make sure your credit reports are accurate and in order.
When we looked at refinancing during BK, our reports were a mess - especially those accounts which were IIB and not reporting correctly.
This caused our FICO score to be horrendously low. And although our mortgage options were quite limited because of this, we did receive a financing offer.
We did not go through with it at that time because we did the math and long-term it wasn't a great deal.
In addition, our bank mortgage gal did not understand credit reports and things FICO and told us our reports were reporting correctly. It wasn't until after the BK was discharged that we learned how things should be reporting and cleaned them up. It wasn't that hard - it did take a few months.
Then we got a great deal on refinancing our mortgage.
One other caveat - be aware of who your lender is before signing papers. And make sure you go with a legitimate lending agency. Very important.
Current rates are sweet - as you already know! Best wishes!
