Finance Q&A

Refinancing to Pay for Bankruptcy During Mortgage

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Q. -Hello, My husband and I filed bankrupcty over 3 years ago. We recently, at our lawyers suggestion, decided to refinance to pay off the remaining 1.75 years. We had the appraisal done, received approval from a loan company and Motioned the court

A. -This is a common problem and worse, it is almost impossible to fix sufficiently for a mortgage underwriter to be satisfied. The pay off amount should be your principle, get that from the proof of claim filed in your case, plus fees (late charges

 


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