Our Ch. 13 was discharged 2/09. We had an outrageously nasty ARM. We were planning on refinancing a year out, but found we needed to refinance with some cash out to handle some attorney bills. Had just done a cc mini-app spree in anticipation of refinancing early next year - so weren't sure just how things would pan out.
App'd with our local CU (we've been with them for 7 years). They offered us a mortgage in the 5's, with a refinancing every 5 years for the life of the loan (their version of a balloon - it does not become due per se, it just needs to be refinanced or rewritten by them), they would finance 80% of the current market value, and a promise they would not sell the loan.
Weren't happy with that - so we headed over to our preferred bank. We don't have a history with them - but like their mortgage people. We were hoping for an FHA loan. When we were apping, we were told that we were pre-approved and could go traditional and didn't need to go FHA. I think the mortgage guy was as shocked as we were! End of story - We closed at 4 and 7/8 on a 20 year (our preferred package)!!!! We are totally amazed and delighted and very happy to be rid of the crazy 30-year ARM. We have lower payments and a 20-year mortgage, which we have scheduled to pay off in 15.
We are still totally amazed! Good things happen after BK - sometimes sooner than you think.
(We worked dang hard since last February to clean up errors on our reports & add new credit lines. DH's and my middle FICO scores were both 731. Still think we are SO fortunate to be here)
Just puttin' syrup on something, don't make it pancakes.