We need help refinancing after chapter 13, will Beneficial foreclose if we are behind?

Our mortgage is with Beneficial, we have a first and 2nd, the payments have not been timely during the last 5 years of the chapter 13, We also have a commercial building that the payments have never been late.

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Answered by Chad Freeman, Branch ManagerPRO+ in Bethesda, MD
This is a situation that you would benefit from by speaking with a qualified attorney. I can however shed some light and possibly help with a direction on this. A chapter 13 bankruptcy will prevent you from refinancing anywhere between 2-4 years from the discharge date (this is Fannie & Freddie policy) and it depends on whether or not there were extenuating circumstances. If payments have not been timely it is likely that Beneficial may have grounds to foreclose but you should be in touch with their loss mitigation department to communicate on this. Again, you should speak with your attorney on this. Good luck. | 07.03.14 @ 19:59
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$commenter.renderDisplayableName() — {comment} | 12.04.16 @ 18:43
Answered by Caroline Gerardo, C G Barbeau in Newport Beach, CA
I have a product, expensive, that you can refinance one year after the bankruptcy discharge. You will need 12 months paid as agreed. I assume the Beneficial loans are high rates. Can you make it 12 months and pay everyone on time? Then refinance to conventional when the 4 year wait has ended. Sell something to get it caught up, if you have made no payments during the bankruptcy, Beneficial will be after you as soon as you discharge, don't miss a payment after the bankruptcy. | 10.27.15 @ 20:39
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$commenter.renderDisplayableName() — {comment} | 12.04.16 @ 18:43
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