NON-FHA Mortgage Discharged in 2010 Ch 7; 2015 & STILL NO Deed Tfer - Is FHA even a possibility?

[DallasLoanGuy]

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@Anonymous wrote:

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@DallasLoanGuy wrote:

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@DaveInAZ wrote:

 You are NOT in foreclosure, foreclosure begins when the lender initiates the legal process required in your state, which they have not done.

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not in foreclosure, but every lender i know will treat you as if you are since you are 120 days late

120 late = foreclosure

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I'm confused as to how I'm 120+ days late on a loan that was discharged in bankruptcy  My credit report reflects a zero balance and states "discharged in ch 7 bankruptcy"... I haven't had payments reported either way since I filed bankruptcy in October 2009.  I was actually not late when I filed and didn't go "late" until they held and refused payments because of the bankruptcy.  I'd planned to keep my house and was forced into bankruptcty by an unrelated family law issue; I only accepted that I couldn't after all of the downfall from their refusing my payments.  I didn't just go late and run or anything - they held my checks and gave them to my attorney at the Stay hearing - that's when the loan went late and things went downhill.

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ok. you are not 120 days late

[DallasLoanGuy]

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@Anonymous wrote:

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 There's no foreclosure, so how can I be denied based on the foreclosure guidelines?  I've met the bankruptcy time, so I'm super frustrated.

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a agree. it is a strange situation. but you have a mortgage on your credit report that is in your name. you didnt pay it. what else does the lender have to go off of?

i recently got an internal memo regarding guideline updates. likely a lender guideline.

"for fha loans, the waiting period for foreclosure starts at deed transfer, not discharge date for those included in bk"

dont know the reason. likely all the banks we sell to have taken this stance.

[Anonymous]

Update - 

Still no clue on the whole thing but I've emailed H.U.D. and requested clarification.  When I receive a reply, I'll share so that maybe others trying to figure this out can have an answer.  

I'm also waiting on a reply from my BK attorney re: a quit claim deed... we'll see.

I get that some people tried to screw the system but just as many, if not more of us went through one of those times that life just happens and are trying to rebuild.