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No you can not get a home equity line of credit but you can refinance and pay off the chapter 13 with the new mortgage.

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โˆ™ 2014-08-31 20:11:01
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Q: Is it possible to get a home equity loan while paying chapter 13?
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Related questions

Is it possible to refinance your home while in chapter 13?

Yes, it is possible to refinance your home while in an open Chapter 13, if your credit score meets the company's requirements. Also, a max 80% loan to value on your equity will be used to make sure you have enough money in your home to cover closing costs. There are also programs available that do not have score requirements and also allow you to payoff the remaining balance. If you need assistance go to

How can one determine if the equity on a car is worth while?

The cars equity is worthwhile if it is possible to sell the car without losing too much value from the time of the ownership of the car.

How do you keep your house when you file bankruptcy?

By filing a chapter 13 BK, although its possible to go through a chapter 7 while keeping the mortgage current.

Can a primary owner keep a secondary property while filing for bankruptcy if they have a renter with a rent to own agreement?

In a Chapter 13, yes. In a Chapter 7, it depends on whether the debtor has no equity or has exemptions available to cover the equity, or can pay the trustee the value of the equity. Otherwise, the trustee will collect the rent and either sell the property to a new owner or wait a short period for the tenant to buy it. The trustee will want the rent in any event, even if he may decide to abandon the property in the current real estate market.

Is it possible to have an elective procedure such as Lasik to improve vision and finance the procedure while in Chapter 13?


What lenders refinance while in a chapter 13 bankruptcy?

None, if you mean refinance a debt in the chapter 13. If your car dies, and you can find one that does not require a payment much more than you were paying before, you can probably get it approved by the trustee and the court.

Can you keep home in bankruptcy?

In the State of Illinois, you can keep your home while filing a Chapter 7 if it is determined that you do not have an equity position in your home that exceeds the Illinois statutory exemptions and continue to be current on your monthly mortgage payments.

What is the best type of loan for home improvement?

When remolding a home, the best choice of a loan is a home equity line of credit. This allows a home-owner to receive money as needed, while paying the interest only on the amount used.

How is stockholder's equity increased by revenues and decreased by expenses?

Briefly explain why the owner's investment and revenues increased owner's equity, while withdrawals and expenses decreased owner's equity

What is the difference between return on total equity and return on common equity?

Total equity and common equity are separate things where there is preference shares are also issued in that case only shares issued to common share holders are included in common equity while in total equity shares issued to preference shareholders are also included.

What do equity loans do for you?

An equity loan allows you to pay towards the loan amount while earning equity. So if you were to sell your home you would make money to use towards your next home.

What are the possible ways to increase debt-equity ratio?

The debt-to-equity ratio is a very simply calculation. Just divide a company's outstanding debt at a given date (usually quarter-end or year-end) by the company's equity on that same date. So, to increase this ratio, you would need to either increase the debt balance (i.e. borrow more) or decrease the equity balance (i.e. pay a dividend). Keep in mind, while increasing the debt-to-equity ratio will increase the ROE (return on equity) for a company, it also increases risk. Additionally, most banks include covenants in their loans that limit the debt-to-equity ratio for their customers (thereby making certain that the company has an equity "cushion" should an economic downturn occur).

Are owners equity and debtor fall under asset?

Owner equity is liability for business falls under liability or equity side while debters are current assets of business and fall under current assets.

Can you get a home equity loan while in foreclosure?

Possible, but you would need: Equity in the house above the existing leins and good enough credit to qualify for another loan. Which if you aren't making your existing one, can be a hurdle, especially at any thing like market interest rates. The new second mortgage (Equity lender) will liklely insist the funds be used to make the first loan, and other debts, current. Probably as part of a repayment plan.

What Advantages does issue of debentures over equity shares?

Cost is the major advantage. Debentures are to be serviced for the contracted period of time, while equity servicing is perennial.

Did paul go to heaven?

It seems that the Apostle Paul did go to heaven for a short while at the city of Lystra. It is outlined in Acts chapter 14 and it is possible it was a near death experience.

Are you allow to buy a car while collecting social security disability?

Yes, you just can't have too much equity in it, not an issue if financed. if you are paying cash, don't get one too valuble in your name only. If financing, your issue will be meeting income requirement with that alone, even if you can meet the payment

Can you file chapter 7 while in a chapter 13?

No. You can only convert the 13 to a 7.

Can you file chapter 7 while in chapter 13?

No. Only one bankruptcy at a time.

What chapter did Ralph escape the hunters while stabbing two boys?

Ralph stabbed two boys with his spear, while evading Jack's hunters in the final chapter of the book: chapter 12: Cry of the Hunters.

When was us economy at its best?

While it was at war or while its allys were paying it for weaponry.

Difference between preference shares and debentures?

Preference shares are equity form of capital while debentures are debt form of capital both type of capital has preference to be paid before the normal share capital holders in case of liquidation but interest paid on debentures is tax deductable which means that by paying interest company can save tax as interest reduces the net income of company while preference share holders receive interest after tax deducted net profit.

Can you retire while in chapter 13?

Yes, but if your income will be too low to make the plan payments along with your other monthly expenses, you will have to amend your plan, if possible. Talk to an experienced bankruptcy lawyer

What is The role of packaging in a firm's total product offer?

It is to increase brand equity while cutting costs

What type of information is disclosed on an equity release?

An equity release allows someone to remain in their home, while receiving an income for it. It's very similar to a reverse mortgage. All the risks associated with the equity will be disclosed, such as the fact the person can no longer sell their home if they needed to.