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9 Mos. Remaining in Chapter 13 BK - want to refinance first mortgage through FHA.

Profile picture for hannahd
Is it possible to refinance our first mortgage through FHA?  We have 9 months (and $18k) remaining in a 5-year Chapter 13 plan.  Our first mortgage balance is $297k at 6%.  We also have a HELOC balance of approx. $85k, but realize FHA cap won't allow this to be included in a refinance.  Our home is located in Shelby Co., KY and is valued at approximately $549k.
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July 05 2011 - Simpsonville
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Profile picture for CMG Financial

Yes...  While in a Chapter 13 bankruptcy you must have your trustee's permission and have been in the bankruptcy for at least one year. Also, there may be no late payments since the bankruptcy was filed. 

The maximum LTV (loan to value) is 85%. If the mortgage was not included in the bankruptcy, the maximum LTV is 97%

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July 05 2011
 
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Discussion9 Mos. Remaining in Chapter 13 BK - want to refinance first mortgage through FHA.
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