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We are currently using a lender that has agreed to pay off our 13 and give us a mortgage with a reasonable interest rate of 6%. We are using Sunset mortgage, you can do a search on the WWW. You cannot, however, use a FHA Loan for this type of agreement as we've been told- you must do a Conventional loan. Also, remember that after payoff, it takes around 3 months to receive your discharge letter from the Trustee, at least that is what I've been told by my attorney. Hope this helps- just know that their are lenders that will do almost anything for the right amount!

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โˆ™ 2005-09-14 03:23:30
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Q: Do you know a lender that will pay off your chapter 13 and give a first time home loan?
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Can FHA turn you down for a new home purchase due to Home being surrender under a less than 2 year Chapter 7 bankruptcy?

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Yes. A mortgage says that the loan is secured by the property. A "chapter 13" does not allow you to stop making payments on your mortgage.


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Well the options that you have are , You can sell your home or refinance when you are under Chapter 13.A mortage company can negotiate on your behalf with your lender to ease off the hassles for you.


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The lender for the refinance will require the home equity lender execute a subordination to the new mortgage. Also, the balance due on the home equity mortgage will factor into whether the new lender rates you as a good risk for loaning more money.The lender for the refinance will require the home equity lender execute a subordination to the new mortgage. Also, the balance due on the home equity mortgage will factor into whether the new lender rates you as a good risk for loaning more money.The lender for the refinance will require the home equity lender execute a subordination to the new mortgage. Also, the balance due on the home equity mortgage will factor into whether the new lender rates you as a good risk for loaning more money.The lender for the refinance will require the home equity lender execute a subordination to the new mortgage. Also, the balance due on the home equity mortgage will factor into whether the new lender rates you as a good risk for loaning more money.


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