Question by Lucky One: I’m currently in chapter 13 and want to get out of it buy refinancing my home. Good idea?
The chapter 13 takes alot of my paycheck and I want to go back to normal bills. My percentage rate on my home is 13.50%. That is crazy. I know there is enough equity, so that is why I want to get the “13” off me and reduce my percentage rate. Hopefully there is a financial institution that can help me. Any suggestions???
Answer by Working Mom
If you are able to secure financing, and there is a good possibility that you should be able to, you need to know that you will most likely have to pay off the Chapter 13. That means at least a percentage of the unsecured debts included in the Plan will have to be paid.
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