Pre Approval with foreclosure exception!

[Anonymous]

I know my story is similar to many.  Deadbeat ex never refinances home and home goes into foreclosure and you get stuck with the record.  I want to say it can be done!

Today, my lovely husband and I, got our pre approval a mere 6 months after the foreclosure (almost 2 years after process started).  Now, in some ways, I was lucky because the foreclosure tradeline was deleted from my reports for some unknown reason but I disclosed it anyway.  My LO decided the best course would be to send it through underwriting early so once we received the preapproval we knew that nothing would pop up.  

I had plenty of documentation to show that he was awarded house, payment responsibility, how I had even tried to arrange a short sale once I became aware (and the bank would deal with me bc "it wasn't my house") and the mortgage company completely agreed it was not my fault!

I am beyond excited that I can put this behind me and create a wonderful home with my family!

[ezdriver]

Congratulations on that wonderful news.

[StartingOver10]

Yes! Congratulations!

You do have a benefit when you can show that the f/c was due to a former spouse not making the payments on a property they were awarded in the PSA.  

Have fun looking for your new home!

[Imperfectfuture]

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@StartingOver10 wrote:

Yes! Congratulations!

You do have a benefit when you can show that the f/c was due to a former spouse not making the payments on a property they were awarded in the PSA.  

Have fun looking for your new home!

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+1 Congrats

[Anonymous]

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@Anonymous wrote:

I know my story is similar to many.  Deadbeat ex never refinances home and home goes into foreclosure and you get stuck with the record.  I want to say it can be done!

Today, my lovely husband and I, got our pre approval a mere 6 months after the foreclosure (almost 2 years after process started).  Now, in some ways, I was lucky because the foreclosure tradeline was deleted from my reports for some unknown reason but I disclosed it anyway.  My LO decided the best course would be to send it through underwriting early so once we received the preapproval we knew that nothing would pop up.  

I had plenty of documentation to show that he was awarded house, payment responsibility, how I had even tried to arrange a short sale once I became aware (and the bank would deal with me bc "it wasn't my house") and the mortgage company completely agreed it was not my fault!

I am beyond excited that I can put this behind me and create a wonderful home with my family!

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