Legal Question in Bankruptcy in Maryland
Can I stop chapter 13 by refinacing my home?
I filed Chapter 13 to save my house from foreclosure. I had 1 hearing with the trustee and now have another one in 6 weeks. They would like me to repay debts in 3 years but I wanted 5. Now I found a hard money lender that says I can do a 70 LTV refinance and pay all my debts in full. Can I refinance the mortgage/debt using hard before the court date arrives on my own or do I have to approach my lawyer and the trustee to see if it is legal?
1 Answer from Attorneys
Re: Can I stop chapter 13 by refinacing my home?
Either way the creditors will require notice. I don't know where your petition is in process. A creditors meeting may be required. It is possible that you may want to have your petition dismissed and this depends on where you are with administration. Contact an attorney for assistance.
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