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We received a successful Chapter 13 discharge in December 2016.  Are there exceptions to the 2 yr waiting period?
Also, contacted several brokers in my (Richmond, VA) area; none of them are familiar with the Conventional 97 program.  Where can I find a knowlegeable broker?  (Home value is 297. current mortgage is an 4.25 ARM set to adjust Sep 2019, Balance is 207, also have a second, balance 50K @ 5.99)  Looking to refinance with max cash out to do an addtion to the house.)  Scores currently 730 to 750, depending on the bureau. No card debt, no car loans. Income is good.
asked Mar 6, 2018 in Refinancing by anonymous

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There is no waiting period after CHAPTER 13 BANKRUPTCY discharged date.  Lenders that require a 2 year waiting period is due to their own mortgage overlays. You can qualify for FHA LOAN on a cash-out refinance up to 85% LTV. You will not be eligible to qualify for Conventional Loans until 2 years after Chapter 13 Bankruptcy discharged date.  Again, most lender have overlays on CONVENTIONAL LOANS after Chapter 13 Bankruptcy discharged date of 4 years.

Gustan Cho NMLS 873293
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The Gustan Cho Team at USA MORTGAGE
answered Mar 6, 2018 by GustanCho (106,540 points)
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