question about chapter 13

Date: Fri, 02/20/2009 - 08:39
Submitted by on Fri, 02/20/2009 - 08:39
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Help! Will I loose my house if I file Chapter 13? I'm thinking of filing chapter 13, however I don't know if it's a good idea. I have a 5 yr ARM on my house that is up this year in October. How will filing BK affect refinancing my house?


Hi lb,

Welcome to the Community.

No, you shouldn't lose the home by filing for Ch 13. In fact, if you are approaching foreclosure, Ch 13 will stop that process to allow you to catch up.

Consult your bankruptcy attorney for specifics, though. Much of this depends on your specific financial details.

For much more info, click here.

As far as refinancing, that is largely dependent on your specific mortgage company and which indexes they refer to in order to reach a determination. Check your contract.

Hope this helps.

chrys


Submitted by Chrys Henderson on Thu, 02/26/2009 - 22:27

Chrys Henderson

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