No refi now in chap13. Now what??

[brokeNconfused]

here is my problem. I am currently in a loan with an adjustable rate that does not start for 1.5 more years. I filed chap 13 last year with hopes of a refi while in my 2nd year of chap 13. Now with the new Obama Plan i cannot refi for 2 years after discharge of the 13???? Where does that leave me ? Are there any other options besides giving back house? The adjustable starts about the same time i will finish my Chap 13. There is not much equity to speak of, but would like to keep home.

any ideas why they took that refi tool away from us? Any suggestions for help now?

[spearmint]

Interesting. I thought with the Obama plan that you COULD refi while in an active Ch13. Are you sure?


Ohhh, maybe not a refi - but you could do a loan mod into a fixed rate, I'm sure.

[justbroke]

One has always been able to refinance (especially through FHA) while in a Chpater 13. I dont' read where the new plan changes that.

[brokeNconfused]

its been posted here on other threads that this is one of the requirements. I would hope its not true. Looks like only way to do it is by showing the BK was beyond ones control, have improved credit and have a low DTI. NOT LOOKING GOOD for me here.