I applied for refinace on my Forte GT back in May and was only approved by one outlet who offered no where near what I was looking for.
I was told by the loan officer at the time that I likely would have to wait until my BK (Chap 7) was two years old which is next month (Sept '21).
There quite a few things I want to get done and I've burned most of my PPP money because I was unable to get even a $1,200 loan from Upstart despite balances reporting of 9%, they said "It wasn't clear I was going to repay the loan". Well due to some unforseen circumstances like I said I had to spend my PPP money ($13K) mostly keeping credit cards paid off because I was unable to work for almost a month and half.
EDD finally kicked in a week ago just as the last of my PPP was spent making payments.
Okay enough of that, I have more money coming EIDL and Cash For Keys to vacate my parents house which has been sold (they passed away).
I would like to cash out refi the car, the idea goes like this.
I am $1,640 under water. I could pay that amount in a lump sum and then refi the car in Sept, ask for 125% LTV at a much lower interest rate than credit cards or personal loans.
Would it be easier to do this with a bank I have accounts with or should I try a CU? DCU wouldn't refi the car because of my BK.
If I paid my balances down to 8% again my score would be 670+, it's 649 currently at 59%
