Paying off early

[gtownusa]

I would like to refinance and payoff my Bankruptcy and repair my house, The refi agent told me to refi now and just pay the bankruptcy off. Then in a couple months refinance again to cash out and get a lower interest rate. He said my fico score will jump when my bankruptcy is paid off. Is this true? Is he just trying to sell me? How much would my fico score jump? 10-20pts? 20-40pts? I am just trying to figure out if it is worth it. I would be paying more than I am now, until my rate goes down.
Thanks for your help

[BassBoy]

You're gonna have to go with your gut, I think. The first thing that catches my attention is your higher payment. Would the increase in payment be less than your Ch.13 plan? If so, then this could be a great option. On the other hand, I would very cautious here because there are a lot of predatory lenders just waiting for someone like you because they know that they can strap you and you can't file BK for so many more years and they'll take your home. And think about this......how do you know if you can even get a lower rate later on. IMO, this is the mortgage lenders/mortgage brokers sales pitch. Ever heard of Buyer Beware? Well.......Borrwer Beware.

How much your score will go up (or even down) really depends on how much debt you have as opposed to your income at the time you wish to refinance. I've read a lot of different numbers here, so it's hard to give you specifics.