Mortgage Loans

[raisemyfico800]

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[MarineVietVet]

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raisemyfico800 wrote:

<hr><img align="left" border="0" width="50" height="50" src="http://ficoforums.myfico.com/fico/i/custom/FFC_Ico​n.gif"><font size="2"><font size="1">Starting Score:</font> <b>800</b><br><font size="1">Current Score:</font> <b>800</b><br><font size="1">Goal Score:</font> <b>850</b></font><br><br><font size="1"><a href="http://ficoforums.myfico.com/t5/NEW-Take-the-FICO-​Fitness/Take-the-FICO-Fitness-Challenge-for-2012/...">Take the FICO Fitness Challenge</a></font>

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Hi there.

Was this meant to be posted in the FICO Fitness Challenge board? I'd be happy to move it for you or if you posted by mistake I can delete it. Just let me know.

MarineVietVet, myFICO moderator

[roccobebe]

Can anyone tell me if you included your house in BK and stayed and did not pay because of bad advice from KEL and are about to be foreclosed on does the clock start ticking (3 yrs.) from the date of discharge to be pre-approved for FHA or does it start after your foreclosed home has been sold? I hope its not the latter. Already been 3 yrs. since discharge and am trying to get new FHA, make too much for usda loan. Was trying to get loan mod. and they said stop paying your mort. and they will help you. Wrong! All that did was make us way upside down now in our home so any loan mod. would not be worth it . Owe nearly $300 thou. on a home worth $150

[techgirl]

3 years from the sale of the house. What State do you live in. Also, does anyone know what the status of the Bush 2012 act is? I don't think they are renewing it - somehting else to think about before you leap.

[CashIsBetter]

Our home was sold in Feb 2009, and our chapter 7 discharge was in August 2008. We qualified for an FHA home loan in August 2010.

We found 1 lender out of at least a dozen who
Interpreted the FHA guidelines differently.

We turned in our home with the chapter 7 (i.e. we didn't reaffirm the debt), but our lender went from discharge date.

If you reaffirmed the debt, then I would think u have two distinct issues on your hands. First would be the chapter 7, then the foreclosure itself.

[chasmith]

As I understand it the rule is:

Two years from Chapter 13 Filing, or

Two years from Chapter 7 BK Discharge (I'm very sure of this, this was my circumstance), or

Three years from transfer of deed in a foreclosure, short sale or deed-in-lieu of foreclosure,

Whichever produces the latest date...

So this punishes people who didn't reaffirm their home where the bank took its time to complete foreclosure through to deed transfer.

[WeatherNLU]

Would you mind sharing who that lender was?  I have been told that giving up the house in the CH7 is the same as a foreclosure and am being made to wait three years even though the home was never foreclosed on.

[roccobebe]

wells fargo

[roccobebe]

could you possibly tell me who that lender was? The one who started the clock ticking from the discharge date of the bk

[roccobebe]

Hey cashisbetter did you continue to live in your home after bk and not reaffirming it ? that is our situation and are trying to get preapproved somehow before we do a short sale or notice of abandonment and end up kicking ourselves out of our own home and renting endlessly. Thats why I was wondering who that lender was thank you We live in Fl.