Refinancing Home To Pay-off Chapter 13
I own several properties and had to file a Chapter 13, on ( 1 ) property that was involved in a co-ownership. The co-owner defaulted on the Mortgage along with several other loans he had secured...and, his lenders were coming after the property and placing leins..... Since the property was co-owned and the other party defaulted, I basically had no choice. I tried re-financing and he would not sign off....So therefore I had to surrender only the 1 property, and re-affirmed on the remaining properties owned solely by me. I was wondering if anyone out there is aware or familiar of any products that would allow me to re-finance 1 property to pay off the Chapter 13???? <IMG SRC="images/forum/smilies/icon_confused.gif">
[ Edited by pcbrewer on Date 10/07/2003 ]
[ Edited by pcbrewer on Date 10/07/2003 ]
[ Edited by pcbrewer on Date 10/07/2003 ][ Edited by pcbrewer on Date 10/07/2003 ]
I would get a lawyer on him to sign off or sue for damages. Also make sure that the bankruptcy gets taken off your credit asap or you will have problems getting the loan.
There are hard money lenders on the TCI Lender section that will do what you need, but with a chapter 13 on your record you will be forced to pay higher fees, points and interest. You may want to look into just selling your interest or turning it over to someone else if there isnt too much equity into it.
Good Luck,
Kyle