Is a HARP re-fi possible while in Chapter 13 in California
I am about 4 years into a 5 year repayment plan in my chapter13. My credit score is 637 (equifax). I am up-to-date on my mortgage payments as well as other small credit cards obligations. I've tried to HAMP modify with my lender OneWest Bank which was denied. When I called them to ask about a HARP refi, they say I don't qualify but will not give me a reason, just refers me to the government website for information. Won't let me apply or give any specifics as to why I don't qualify.My home has an approximate LTV of of 122% ($243,000 owed vs $198,000 value). My current loan began in 2005, at 6.125% fixed for 30 years, my payment is $1981 per month including principal, taxes and insurance.Can anyone give me any information or help with this situation? by bkbr25_140_351 from Long Beach, California. Mar 2nd 2013
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions
Possibly. There are several hoops we are going to have to jump through, but it should be doable. Please connect with me so I can gather some specific details to confirm for you. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950
Jeff Dobbs (jdobbs)
#70 ranked lender in Texas - 11 contributions
you can still refinance while in CH 13 BK with permission of the Trustee of the Courtas long as you purchased the home prior to May 2009 , you should qualify for a HARP loan..please call me to discussJeff DobbsGold Star Financial CA Direct Lender800-933-2243
Barb Lanis (BarbLanis)
#69 ranked lender in Illinois - 679 contributions
As long as your loan was guaranteed by Fannie/Freddie prior to June 1, 2009, AND you have been current on your Chpt, 13 payments for 12 months, AND your BK Trustee approves (likely), you should qualify.
Dave Metsker (DaveMetsker)
#35 ranked lender in Oregon - 2,318 contributions
As stated earlier, the BK trustee has "legal possession" of your home and other assets, and the BK Court would have to grant permission. That said, your lender would face some major title issues, due to the bankruptcy filing, and may not be willing to work through the challenges.
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