Any lenders that refinance during a chapter 13?

Posted on Oct 7, 2012 in HARP Refinance

Question by Matthew S: How long does it normally take for a True No Doc home loan to close?
I will be applyign for a No Doc home loan this week. I know I will get approved since my credit score is 760. What I am wondering is how long it will take from start to finish. I heard the clossing is quicker but its 2am and can’t call a mortgage broker. This is all assuming appraisal and title work is done.

Thank you for your answer.

Best answer:

Answer by ballerkickz
Matthew, try story

true no doc loans in this market are more difficult than a few years ago but could close in as quick as a week. I’ve closed a true no doc loan in as quick as 4 days. email me for more details if youd like.

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Sometime ago the Soviet Government publicly announced the detonation of an atomic bomb. Previous expertise had taught us to treat lightly Moscow pronouncements. Even so, the White Home, in a solemn statement in September, 1949, associated the disheartening news that startled and then shocked the Nation.

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Julius, 35 and Ethel, 37 executed 19 June, 1953 radio news broadcast

The ExecutionWikipedia
Eyewitness testimony (as offered by a newsreel report featured in the 1982 documentary film The Atomic Cafe) describes the circumstances of the Rosenbergs’ death, noting that while Julius Rosenberg died after the 1st series of electrocutions, his wife did not. Following the typical course of electrocutions, attendants removed the strapping and other gear only to have doctors establish that Mrs. Rosenberg had not yet died (her heart was nevertheless beating). 3 courses of electrocution had been ultimately applied, and at conclusion eyewitnesses reported, Bob Considine among them, a grisly scene with smoke rising from her head in the chamber.

The Rosenbergs’ Young childrenWikipedia
The Rosenbergs’ two sons, Robert and Michael, spent years attempting to prove the innocence of their parents, till 2008 when they admitted that their father had most likely been involved immediately after Sobell, at age 91, confessed. The Rosenberg young children were orphaned by the executions and no relatives adopted them. They had been lastly adopted by the songwriter Abel Meeropol and his wife Anne, and they assumed the Meeropol surname. Abel Meeropol (below the pen name of Lewis Allan) wrote the traditional anti-lynching anthem &quotStrange Fruit&quot, made popular by singer Billie Holiday. Robert and Michael co-wrote a book about the experience, We Are Your Sons: The Legacy of Ethel and Julius Rosenberg (1975), and Robert wrote an additional book in 2003, An Execution in the Household: 1 Son’s Journey.

FBI Famous Situations: The Atom Spy CaseGovernment Views of the Rosenberg Spy Case • Getty PicturesNew York Times • 58 years later records unsealed in Rosenberg spy case

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Question by : Refinance with HOPE government program?
My wife and I are looking at all options for us to somehow refinance or adjust an upside down mortgage on our home here in California. We love our home & neighbors and would like to stay in it.

Ive read too many stories where people have spent thousands of dollars with lawyers, sildenafil only to lose their money becuase nothing happens in the long run (KFI-640am in Los Angeles has one shady advertiser with a D- rating on BBB).

Ive done a bunch of research… there doesnt seem like too many options out there besides going directly to my mortgage company and pleading for help. Which through phone calls have said they arent interested in helping us “at this time”.

The “Obama Plan” doesnt cover my situation since my mortgage is upside down too much.

Lastly, information pills the HOPE program reduces the loan amount to the current house value, check then does a refi, but also requires the home owner to give up 50% of any future equity in the house. The governments website of the HOPE program does not have much information on it. One glaring question I have that no one can seem to answer is: What if we pay off our loan within 30 years… do I still owe the government 50% equity after I pay off the loan (and if I sell the house)?

Does anyone have any good info about the HOPE program or any other options available to me? Any info would be greatly appreciated, thanks!
Ryan… do you want to know why I’m looking into this? BECAUSE I CAN ! Because the stupid politicians made these programs. The same stupid politicians that raped our country and gave all of our money to the Feds, to the Chinese, and to everyone else. The same idiots that nationalized our private companies.
So if we never sell, we never give up any earned equity?

Best answer:

Answer by Ryan M
1) You thought that you house was such a good deal when you bought it, so why are you crying for help now that you made a horrible investment decision? Did the structure of the house change at all??? If you bought a brand new car, would you be crying for a loan modification because you are 20% underwater once you drove it off the lot???? I don’t understand people’s logic with that. If the value of the property was continuing to go up from when you bought it, should the bank have the right to modify your loan to a higher principle??? What is the difference?
2) As for you HOPE question, you will owe 50% of the equity REGARDLESS of when you sell the property….even after you pay off the loan. ANY future equity means EXACTLY that…..ANY.

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President Obama Urges Action on Refinance Bill
This proposal, viagra dosage if passed, would allow underwater homeowners to refinance their current mortgage with FHA insured loans. Underwater borrowers are those that have a mortgage that is more than the value of the property. The targeted homeowners would be …
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Question by Luis: Any lenders that refinance during a chapter 13?
I am currently in a chapt 13 plan I am about 2 years in now this Nov. I am trying to refinance my home of 6 yrs, visit this My currently lender tried to refinance me under the HARP program but when my Chapt. 13 came up it fell apart. Any lenders out there that will take my situation on??

Best answer:

Answer by Yirmiyahu
You’re joking, ampoule right?

Permission To Borrow Money
The whole idea behind Chapter 13 is to get you out of debt. Hopefully, when you are done making your last payment to the trustee, you owe no one any money (with the possible exception of mortgages and student loans and other nondischargeable debts not paid in the plan). That is why the law generally does not permit you to incur debt while you are in Chapter 13. However, sometimes you need to incur debt – for example, if your car quits running. Other examples are if you go back to school and want student loans, or if you decide to buy a house.

In the case of a vehicle, you may need to replace one that is being paid in the Chapter 13. If that is the case, then you need to decide whether to trade it or not. First, find out what the balance owed through Chapter 13 is (call us & we will find out for you). Then find out how much the dealer will give you on a trade (or how much you can sell it for). If you can get more out of it than the balance, it is better to trade it. If you cannot get that much out of it, we will ask the court to permit you to surrender the vehicle and eliminate it from the plan. Fill out the appropriate information in the form below.

The procedure is as follows:

Find a lender who will work with you and agree to provide financing if it is approved by the court (many car dealers will provide financing in-house – we do not keep a list of lenders; you are responsible for hunting one down). Note: some car dealers will tell you they just need “a letter from the trustee” or “a letter from your lawyer”. This is not correct – you cannot do it without a signed order from the court.
Fill out the form below and submit it by email, mail, fax, or by dropping it off at the office. Do not call the information in – it must be in writing!
After you do so, we will draft the motion to incur debt. We must mail copies to all creditors, and give them 20 days after mailing to file an objection with the court. If an objection is filed, the matter goes to a hearing in front of the judge, usually within 30 days. If no objection is filed (and 90% of the time, there are no objections), we will draft an order and send it to the trustee. He will sign it and forward it to the judge for his signature. It is then transmitted to the clerk’s office, who will mail copies to you and to us (we get our copies the same time you do).
Sometimes, the trustee will want us to submit a new budget showing you can afford the payment. If you are contacted to do this, do it as soon as possible, because the trustee will not approve the order until he sees the new budget.
Once you have received the signed order, then take it to the lender and complete the transaction. Many times, in a vehicle loan situation, the vehicle you wanted is gone by the time the process is completed. That is why Mr. Cloon puts language in the order that allows you to purchase a similar one at a similar price.
Your payments on the loan will be outside the plan. It is not included in your plan payment. If you do not make the payments, they can and will repossess the car and sue you, just as though you were not in bankruptcy. If you quit making your Chapter 13 payments, your case will be dismissed. The Trustee will not allow you to quit making payments to him in order to make your loan payments.
There are additional attorney fees associated with this modification. If no objection is filed, the fees are usually $ 180. If an objection is filed, the fees will be more depending on the length of the hearing and any extra work that may be required. You do not have to pay these in advance. We will file a fee application with the court, and will be paid out of the payments you make to the court.

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One Comment

  1. No.
    Banks have regulations in place to re-finance you if you quality.
    If you fail with one, you will fail with others.
    And don’t fall for scam sites that promise you otherwise.