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Veteran Services: Finance Questions

Finances

You're working, and you've got a family that depends on you - both now and down the road. Where do you invest your money? Do you borrow against the equity in your house? Through a preferred provider relationship with USAA, The American Legion can provide expert financial advice to just about any question.

Questions & Answers

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Financial Questions & Answers

Question:

I want to refinance my mortgage. I converted from a Chapter 13 to Chapter 7 on 2/2010, and I have been current on my mortgage since 2007. The payoff would be approximately $92,000 and the house is valued at $186,000. What program do I apply for, if any? – Roger

Answer:

With such a recent bankruptcy, we’d be surprised if you’re able to refinance at all. You could certainly check with your current lender and others to see if it’s a possibility. On the positive side, it appears that you have substantial equity in your home and this could weigh in your favor. If you don’t ask, you’ll never know.