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Cavirs Alert issue

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Anonymous
Not applicable

Cavirs Alert issue

I am 2 weeks out from settlement on a home.  I applied for an FHA loan and the UW kicked it back for a CAVIRS report.  I had a bankruptcy discharged in 11/2014 (property was included in bankruptcy) and surrendered the property to the lender in 12/2014.  They got a decree of forclosure in 9/2015 and the Sheriff sale was not until 4/2017 due to the another party who was on the deed chose to fight the lender in court for 3 years.  I have not heard from the FHA Center yet but when I called they explained that there was a claimed file and it is three years from the date the title transferred out of my name not when when the date of discharge from the bankruptcy.  Is there any remedy to get a waiver or suppression or I am out the $5000 I have already invested in the property (down payment, appraisal, inspection).  Any help or assistance would greatly be appreciated.  

Message 1 of 5
4 REPLIES 4
pizza1
Community Leader
Super Contributor

Re: Cavirs Alert issue

Hi Girlwonder! Welcome to the forums!!Smiley Happy

I don't have any experience with this, but I wanted to welcome you and tell you to be patient, and you'll have a few posters commenting soon who do!

I hope you get your questions answered quickly!!
Message 2 of 5
JVille
Valued Contributor

Re: Cavirs Alert issue

If the loan is declined FHA requires your Earnest Money be refunded. You of course are out the upfront lender fees and any inspection fees you paid.
Message 3 of 5
Anonymous
Not applicable

Re: Cavirs Alert issue

Correct- 3 years from sheriffs sale UNLESS there are circumstances that qualify for suppression. Do a deep search on the CAIVRS threads here (there are 2). We had ours successfully surpressed due to failure of the lender to file for reimbursement from HUD in the prescribed amount of time.
Message 4 of 5
Anonymous
Not applicable

Re: Cavirs Alert issue

Thank you for reply. There was another person on the deed but not the mortgage. He chose to spend almost three years fighting (and fighting for what is beyond me Smiley Wink)in court which is why it took so long. I am sure this will not qualify for anything other than waiting it out. I found the one thread last evening and have been educating myself.
Message 5 of 5
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