Foreclosure in Ohio. Want to keep home. Can he purchase property while in a Ch. 13?
2006-12-13 08:59:22 · 3 answers · asked by Anonymous in Business & Finance ➔ Credit
if he is in a chapter 13 he can stay in the house - to finance anything new (car or house) while you are in a chapter 13 you must have the trustee's approval first and find a bank that would risk it so very doubtful
2006-12-13 09:14:59 · answer #1 · answered by Anonymous · 0⤊ 0⤋
they have people that will refi you under their credit for a year or 2 & then you refi it back to yourself when you are back on your feet. You stay in the house. Typically, though, they charge what could be hefty fees from the equity. So you have to have it all in equity because you dont come out of pocket. Plus what some do, is take 1 year of payments from the equity out to pay in advance, so you basically, stay there for 1 year mortgage free.
2006-12-13 17:22:28 · answer #2 · answered by ricks 5 · 0⤊ 0⤋
Sell the house if you have any equity in it, because it looks a lot better on your credit.
2006-12-13 17:49:29 · answer #3 · answered by Mysteri O 3 · 0⤊ 0⤋