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Am I being used?

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  • Am I being used?

    :from new hampshire......I have filed chapter 13 a year ago and have been keeping payments perfect. My credit score is "0" on all three WHY? also why cant I refinance to get out of this burden? one more question...When I did this bk I was at 9.78% now Im at 11.50% and continuing on time payments,however I was told by mortgage company that interest rate is going to go up again in FEB.2006,I understand my loan is a veriable rate,however is this legal during bankruptcy? its starting to become a financial burden , even though Im trying to pay all debt,and looking at a interest rate cap of 14.50%. What should I do???????????? :[

  • #2
    Don't know what to tell you except your attorney should have negotiated you to a fixed rate mortgage as part of the ch 13 plan; you can refinance out of the ch 13 plan- just find a lender who can and it may help to use a mortgage broker versus a bank kind of lender.


    • #3
      Solution ?

      Yes, your mortgage rate will go up if this is ARM loan. You are making actually two payments, mortgage payment and chapter 13 payments. If you are doing well with this and no other unknown issues are there your credit shouldn't be "0"
      I need more info to be able to tell you how and if we can help you.