If you are in a chapter 13 Bankruptcy (”BK”), you can refinance to a great fixed rate WITHOUT having to payoff your Ch 13. 

The re-fi includes cash out.  A lot of people in BK’s have high rates, but with this great tool, those same borrowers can get their mortgage payment down, without draining the equity in their home to payoff the exisiting Chapter 13.  

I have closed many BK’s in my career and I can honestly tell you that this is a great benefit for borrowers currently in chapter 13.

   Alex Echeandia, Choice Finance Corporation

Tags: cash out refinance, low credit scores, low or no closing costs, New FHA loan limits, refinance arm to fixed rates

This entry was posted on Friday, February 29th, 2008 at 4:36 pm and is filed under 2) General. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.