Chapter 13 home refinance

[key5000]

Hello,

I filed for CH13 back to 2004 and completed all the payment on 10/2009 but get a Discharge from the judge on 8/2010 (they forgot to send the discharge letter until a year later in 2010 when I find out and request them)

My question is I want to refinance my house (currently on 30 years plant and been payment for 10 years), when I apply for the loan RF, all of the lender are denied because they said that I have to wait at least 2 year after the discharge before I can RF.


Could any one please verify if that is true for CH13?

Does anyone know where to do RF with CH13?

Note: My mid FICO score from 3 credit is 620.

Thanks
KEY

[newbie2]

Lending guidelines have tightened up considerably in the last year. It used to be that you could get a new mortgage, or refinance, directly after (or even during) a Chapter 13 plan. Now most lenders are requiring a 2 year post discharge timeline. Also, many are using a middle score of 640 as the new "low".

I think the new guidelines are going to be in effect for quite a while, until the real estate and mortgage market recovers.

[ABC]

FHA guides on CH 13 will allow you to refinance. You'll need your payment history and discharge. Also, many lenders still allow down to 600 score.