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Foreclosure Oct 2014 can I get a mortgage again?

New Visitor

Foreclosure Oct 2014 can I get a mortgage again?

I unfortunatly have a foreclousre that ended in Oct 2014.  My Fico 8 scores are now EQ 662, TU 643 and Exp 657.  We have income at 112k last year and hoping we can go the FHA route with 3.5 percent down.  Any advice or feedback is greatly appreciated.  

Message 1 of 7
6 REPLIES
Regular Contributor

Re: Foreclosure Oct 2014 can I get a mortgage again?

Pretty sure its 3 years, so Oct of this year
Message 2 of 7
Established Contributor

Re: Foreclosure Oct 2014 can I get a mortgage again?

FHA loans are the most forgiving of foreclosures. To qualify for an FHA mortgage loan, you must wait at least three years after the foreclosure. The three-year clock starts ticking from the time that the foreclosure case has ended, usually from the date that your prior home was sold in the foreclosure proceeding.
When Can I Get a Mortgage After Foreclosure? | Nolo.com
Message 3 of 7
New Visitor

Re: Foreclosure Oct 2014 can I get a mortgage again?

I looked it up on my public records...So it would be the actual sale date or would it be the date the foreclosure proceeding (Closed)  Not sure which date to look at.  Thank you

Message 4 of 7
Frequent Contributor

Re: Foreclosure Oct 2014 can I get a mortgage again?

3  years from completion date

Mortgage Loan Officer in Greater Chicago area plus 47 states.
Message 5 of 7
Established Contributor

Re: Foreclosure Oct 2014 can I get a mortgage again?

My non- lender info seems to be that most everything starts when the deed is transferred out of your name. As far as I know that is the "completion" of the foreclosure process
Message 6 of 7
New Visitor

Re: Foreclosure Oct 2014 can I get a mortgage again?


Firemediii wrote:
My non- lender info seems to be that most everything starts when the deed is transferred out of your name. As far as I know that is the "completion" of the foreclosure process

Okay..Thank you..Well it's either my June 2014 date or October date then.  I have already spoken with a Lender and discussed this, sent over tax information from last two years and income verification.  if anything at least I can start the process now and hope for the best in the future.  Thank you for your help and repiies.


 

Message 7 of 7