Post Chapter 13 Refinance Question

[Anonymous]

We are due to be completed with Chapter 13 this upcoming summer(7 payments). I would like to , hopefully, have some long overdue home repairs completed. There was a post not too long ago about a company that was Chapter 13-friendly when it comes to refinancing, but I can't locate it in the forum. Does anyone have any experience with any companies following Chapter 13? I reached out to my credit union that we have 2 car loans through and was told that it would only be allowed 4 years post-discharge. 

[raisemysc0re]

I was approved by Quicken Loans less than 1 year from discharge.

I did not go through with it due to a property lien that was mistakenly not taken off before discharge but Quicken was willing to refi me once I resolved the lien issue.

I'

ve read that it is a minimum of one year post discharge but they still approved me...

Brian

[Anonymous]

Great, thank you for the reply.

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@raisemysc0re wrote:

I was approved by Quicken Loans less than 1 year from discharge.

I did not go through with it due to a property lien that was mistakenly not taken off before discharge but Quicken was willing to refi me once I resolved the lien issue.

I'

ve read that it is a minimum of one year post discharge but they still approved me...

Brian

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[CH-7-Mission-Accomplished]

I think your credit union is more conservative than most.   If I recall, a chapter 13 drops off your reports after 7 years and I assum you are just about to 5 years -- so in two years there will be no sign of the BK and your CU is tellling you four years.   

[Anonymous]

DH got approved by Cap one 2 weeks after BK13 discharge. $40k at 5%. We successfully refinanced with PenFed 2 months later at 3.75%.

My TU was recently cleared of all traces of BK due to an EE and I was just approved for a $75k loan @ 1.95%. There is life after BK.

Read all you can here in prep so you don’t do unnecessary HPs.