Return to archives |
|
Sometimes prospective clients come in to see me, and one of the most common questions that they have is, if I file Chapter 13, how long will it be before I can refinance my house? Some people have "adjustable rate" mortgages or ARM's, and they are stuck with 9% or 11% or 13% interest on their mortgages.
Federal Housing Administration (FHA) guidelines provide that if you are in a Chapter 13, you can qualify for an FHA refinance at a reasonable interest rate (currently 6.5%- 6.75%) so long as (1) you've been current on your house for 12 months; (2) you have no new "derogs" or derogatory reports on your credit reports (since filing Chapter 13); (3) your credit score is at least 580 (I can help you improve your score); and (4) you need permission to refinance, from the Bankruptcy Court. Following a Chapter 7 Bankruptcy, you are eligible for an FHA loan after 2 years after your discharge.
So, if you are in a Chapter 13, or if you've been out of Chapter 7 Bankruptcy now for at least 2 years, and you are "stuck" with a high mortgage interest rate, give my office a call.
Yes, You Can Refinance Your House While In Chapter 13 |
Home | Legal Info | Firm | Bankruptcy Questionnaire | Contact | Directions | Links
|
J. Thomas Black and Associates specialties include: texas bankruptcy law, attorney debt settlement in texas, houston tax attorney, bankruptcy attorney in houston texas, bankruptcy attorney in texas, bankruptcy attorney houston tx, bankruptcy attorney houston texas, bankruptcy attorney texas, bankruptcy in texas, bankruptcy lawyer in houston, bankruptcy lawyer in houston texas, bankruptcy lawyer in texas, bankruptcy houston texas, chapter 13 bankruptcy in texas, credit repair houston texas, debt consolidation using a lawyer in houston texas, file bankruptcy in texas, personal bankruptcy in texas, houston bankruptcy attorney, houston bankruptcy lawyer, houston credit repair attorney, houston texas bankruptcy lawyer, tax attorney in houston, tax attorney houston texas, tax lawyer houston, texas bankruptcy filing, texas bankruptcy law firm, texas bankruptcy lawyer, texas chapter 7 bankruptcy, texas tax lawyer, and filing bankruptcy in texas. Contact J. Thomas Black, Houston Texas Bankruptcy Lawyers. |