Why a Chapter13-Buyout can lower your monthly payments!
When you filed Chapter 13 Bankruptcy, you agreed to pay your past due mortgage payments and other debts usually over 60 months or 5 years. You also agreed to make your regularly scheduled mortgage payments in a timely fashion to your lender. If you have made these payments on time (never 30 days late) for at least twelve months, you have demonstrated to some lenders that you are a good risk, since you have handled the higher monthly payments.
A new 30, 40 or 50 year first mortgage refinancing your existing mortgage and paying off the Chapter 13 Bankruptcy allows you to stretch your debt payments over 30 to 50 years, and this should lower your monthly payments.
more information visit: http://www.chapter13-buyout.com
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