Refinancing Mortgage After Discharge

Question:
I had my 341 meeting on July 8. Just like Brett keeps saying, no one showed up. The trustee found my Chapter 7 case to be an "Asset" case because I have some equity in a couple of properties. He has offered to let me keep my house if I can come up with $21,000. My attorney is trying to negotiate this down a little and the Trustee has actually offered "terms" allowing me to pay 1/2 up front and the rest over the next 12 months. My question is this - Are there lenders that will consider loaning money to someone right out of bankruptcy. I'd like to refinance my house (or take out a second mortgage) immediately after discharge so that I can pay the Trustee the remainder and pay back my 401K plan for the first 1/2 of the $21,000. After the discharge, I'll have no debt except the mortgage and a car payment (for which I get a car allowance from my employer). I've got 5 years on the job and have never been late on the current mortgage or the car payment. Has anyone out there done this? All replies will be appreciated.

Answer:
There are lenders who specialize in "sub prime" loans. Speak with your attorney; he may have some names.





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