Maryland Bad Credit Mortgage

Mortgage dilemma

We are in Chapter 13, credit really bad, but the husband and wife are 6 digits each.
Just a little background that we got bad credit, we use to have a company that was safe and now we just decided to work and makes 6 figures each of us. Now, here is our dilemma.
We have two first mortgage interest is 6.25% and the other is 11.25%.
We live in the house worth $ 700K here in Maryland. We pay for the $ 3,100 first mortgage and $ 2,300 for the second mortgage and $ 1,200 for chapter 13 to total $ 6.600 per month for mortgages. Since we are in Chapter 13, it is impossible to refinance. We tried www.naca.com but they believe that we can not be in Chapter 13. We also tried other refinance the company but, unfortunately, when we buy our house, it was $ 699k and 3 years ago because the market is down the value of the house is the same, there no equality and therefore we can not refinance. So to sum up why we can not refi

Since you make six figures each year, or at least $ 200,000 in total, and your total payments are 6600 dollars a month, only $ 78.200 a year, leaving you $ 120,800 per year ($ 10,066.67 per month) for all other taxes you and other expenses, you should be fine.

I wish I had your problems!

What question? Do you know of a bank or finance company that others can refi for you then that in 13 years?
If this is what you ask - Most places require you to be in bankruptcy for 2 years.
As for the value of your home - many people are facing the same problem trying to refi their homes in an arm or interest for a fixed rate.

your stuck - perhaps you should have done a short sale, instead of chapter 13 - but perhaps you could still sell the house (to get out of here) if your Chapter 13 was only undertaken - Have you explored this path - perhaps check the value anyway - good luck is a difficult situation to be

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Well you obviously do enough to afford it, and can not believe you had to file Chapter 13 is the money that you two do. This is a joke right? Guess you should stop trying to live like rock stars and made live within a budget that is above most people. Sorry, no sympathy here you appear to be two very spoiled who have never had a difficult time in your life (through the difficulty is not that I can not afford $ 15 latte today ' hui) It is unfortunate that you really have no idea how to survive on what you do or how to take care of the bills you have to have the answers, but not going to post them here. Will give advice, check your pride at the door

Hello mortgage dilemma,

Firstly, I want to mention that there are possibilities of refinancing for homeowners who are currently in a Chapter 13. Qualified applicants can get up to 95% of the current value of the house. Some basic requirements are that you must be in Chapter 13 for at least 12 months, you keep a perfect payment history in both your mortgage and your bankruptcy during this period, and you must have sufficient equity not only to pay off your existing mortgage, but buyout your bankruptcy, and (in rare cases, the trustee may approve refinancing, while leaving open your BK, but it is highly unlikely).

However, based on what you have said here, you can not get at that time, however, if you're serious enough about refinancing, it does not hurt to provide. You should either contact a local real estate agent to get an approximation of what your home is worth, or, for easier reading, order an appraisal of your home (usually priced between $ 250 - $ 350). In meatime, continue making payments on time, and hope (like the rest of us) the.