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Laura Hill Asked:

My husband lost his job 2 years ago due to an illness. He has been on SSI for 7 months now. Our current mortgage is in his name only (my name is on the deed but not the mortgage) and our lender refused any sort of restructuring of the loan. Because of our debts we had to file chapter 13. Prior to filing bankruptcy our lender offered a settlement of $80K less than we owe on the loan. Would we be able to finance with a new lender and if so would it be for the amt our current lender offered us as a buy out? [Apache Junction AZ]



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Answer Provided by: David Rider [12/15/2009]

You would have to ask your lender (current) if they will still do the settlement. If so then you could do a short refi. You would also need permission from the trustee of your bk. David Rider - Sterling Home Mortgage MB 0906813 602-539-4141