Question about timing for an FHA after Foreclosure

[Anonymous]

We purchased 5/2016 and closed 7/28/2016 so we more than 3 years out.

[Anonymous]

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@StartingOver10 wrote:

• Have a copy of the deed for the foreclosed property showing the date it went back to the bank. There have been times when the date on the deed was (for example) Dec 20th and the recording date was Jan 5th - so some lenders go by the recording date IME.  Pull your copy so you can supply it to the u/w and so you know exactly when 3 years is up. 

The most common discrepancy I see (I'm a Realtor) is the date on the deed for the foreclosed property. 

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So, I'm looking at the Trustees Deed Upon Sale for the foreclosure, and it's signed and dated Nov 26th, but wasn't filed with the county until December 3.  Which of those dates would be the one which the underwriter would accept as valid?

[Anonymous]

Digging in deeper on the Assessor's site, I found where BoA sold the property to HUD on 12/19

[Anonymous]

Quick bump to see if anyone may have an idea here.

Had a CAIVRS run, and I popped up.  The loan officer I was working with was unable to get any information on the claim as we hadn't signed a borrower's authorization yet.  It was a claim paid on a single family home.  Got my case number, so I'll be reaching out to HUD on Monday - they're closed for Vetran's Day.  Looking through all of the filings with King County on the property which went through the foreclosure, I found that HUD signed a Statutory Warranty Deed on 12/19/14, and s sale price of $342,360.13 was paid to BoA at that time.  Would anyone have any idea if the 12/19 date is the date that the claim was paid out by HUD?  And if so...would it be logical to assume that this would be the date that the three year clock starts on?  I'll have official answers on Monday, but my curiosity was piqued by all of this information I found while digging around and was hoping some of you may have some insight you'd like to share.

Thanks in advance!

[VALoanMaster]

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@Anonymous wrote:

Quick bump to see if anyone may have an idea here.

Had a CAIVRS run, and I popped up.  The loan officer I was working with was unable to get any information on the claim as we hadn't signed a borrower's authorization yet.  It was a claim paid on a single family home.  Got my case number, so I'll be reaching out to HUD on Monday - they're closed for Vetran's Day.  Looking through all of the filings with King County on the property which went through the foreclosure, I found that HUD signed a Statutory Warranty Deed on 12/19/14, and s sale price of $342,360.13 was paid to BoA at that time.  Would anyone have any idea if the 12/19 date is the date that the claim was paid out by HUD?  And if so...would it be logical to assume that this would be the date that the three year clock starts on?  I'll have official answers on Monday, but my curiosity was piqued by all of this information I found while digging around and was hoping some of you may have some insight you'd like to share.

Thanks in advance!

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No, that is the sale date that the 3 year foreclosure clock starts on. The date the claim was paid is something HUD/FHA will tell you on Monday. Your claim date could be 6+ months after the sale date.