Expert: Terry Leeders - 1/30/2008

Question
I need to know how can refinance my home loan andget out of bankruptcy.

Answer
I assume you are in chapter 13 bankruptcy. You will need to seek out a lender and get a proposed refinance contract.  Then get that to your attorney to draft a motion to permit you to refinance.  You should also order a payoff statement from the trustee.  Once the motion is granted,  (court will look to see if it is reasonable and necessary, comparing costs before and after etc.) then you can close on the loan and turn the proceeds over to the trustee to distribute to your creditors.  You should allow about 30 days for the motion to be heard and granted.