Can I maintain a 15 year mortgage going into Chapter 13?

If I have a 15 year mortgage, will this prevent me from filling Chapter 13 or can the court/trustee force me to refinace to a 30 year to increase my disposable income?

Asked on June 28, 2012 under Bankruptcy Law, Illinois


Barbara Whipple

Answered 8 years ago | Contributor

In New York State (NDNY) the Court and/or the Trustee will not make you refinance to 30 years in the ordinary course and as long as this is a mortgage that you have been paying for sdme time - don 't want to see having a 30 year mortgage and then refinancing to 10 years just to reduce disposable income.

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