You did not indicate what the percentage of equity you have in your home or the reason you need to refinance or is this a renewal of an existing mortgage that has matured? As a former banker and mortgage broker my experience is that an "undischarged" bankrupt will find it very difficult, if not impossible, in today's lending environment to obtain mortgage financing other than from a private lender with hefty rates and fees. You may wish to visit www.debtcoach.ca for additional assistance.
You can legally refinance if you choose to, there are no restrictions from the bankruptcy. With that, you may find that lenders will not approve your loan because of the bankruptcy.
While participating in a Chapter 13 bankruptcy, no major financial transactions are allowed w/o the permisson of the bankruptcy trustee.
No, you can't borrow any more $$$$ while you are in bankruptcy. Even on an existing loan. It is against the law.
There is no law against it but you might have trouble finding a lending institution that will work with you.
You can refinance your mortgage, even after a bankruptcy. Refinancing can even help restore your good credit in about two years! Sit down with your lender and talk about a refinancing plan.
One can find a guide on how to refinance a home after a Chapter 13 bankruptcy on various websites like Homeguides and wikiHow. Both websites offer a great amount of information about all kinds of things, including bankruptcy.
According to bankruptcy Canada site, you are bondable during bankruptcy, but...it may cost more during prior to being discharged to be bonded, depending on the agency used for bonding. http://www.bankruptcy-canada.ca/bankruptcy/2007/08/bankruptcy-means-not-bondable.html
You may refinance any time that the refinance improves your financial situation. If you are interested in a no obligation - free detailed analysis - of your situation, please contact me. I am an FHA specialist.
For the rules for bankruptcy in Canada you can check Wikipedia or Bankruptcy Canada. It is also a good idea to check with a debt solutions company or your accountant.
If you are a Canadian resident, you may be wondering if the Royal Bank of Canada offers home refinance services. They are an excellent resource for home refinance services.
Here is the short answer.........No. No lender will allow this. Lenders want you to be out of Bankruptcy.This is what I do refinance people out of bankruptcy early or arrange refinancing so that my clients can avoid bankruptcy or forclosure altogether. that is what you must do in order to refi your mortgage regardless of the mortgage status with your bankruptcy plan
After filing for bankruptcy in Canada you may borrow money. The risk is borne by the creditor. During bankruptcy, after filing but prior to being discharged, you may obtain credit with a value of up to $1,000. without advising the creditor of your bankruptcy. Should you seek to borrow more than $1,000 you are obliged to advise the lender that you have filed for bankruptcy.