@CH-7-Mission-Accomplished wrote:
@kd7 wrote:I have been somewhat of a lurker since my Chapter 7 Bankruptcy in 2012, discharged early 2013 (including the mortgage) and these threads have provided me with a ton of help rebuilding! I am approaching having a credit score in the 700's and a decent in savings for a mortgage, but I am at a loss to my next steps and I'm hoping this wonderful community here can lend some advice.
I purchased a home in 2010 with my ex-husband, had to leave due to domestic violence and left with the clothes on my back and my dog in November of 2011. We tried to work with the bank (Chase) to do a short sale (2), deed-in-lieu, everything! My ex-husband even tried to refinance with his mother as a co-signer and the bank refused all of these. The short sales didn't even come back with a counter-offer, just a flat out no. An automatic stay went into place in 4/2014, assumed to have been lifted the standard 30 days later since I didn't reaffirm. I got notification (through myfico!) that a new lender (Shell Point) had taken over the loan this year, they proceeded to list this as a second delinquent mortgage, which I was able to get corrected on my credit report. It seems Shell Point has put in another stay 05/2015, and nothing has been done since. My name is still listed as the owner on the property. This was an FHA loan.
I am at a loss of what to do, the foreclosure process was started 7/30/2012 (date of served papers) and the house has still not been foreclosed on. I would like to move on with my life and get my name off of this house. The bank seems to just refuse to foreclose!
Has anyone had experience with this? It seems as though I will need to wait 3 years after the house is foreclosed on from reading the majority of the threads to purchase another home, but this seems crazy that my bankruptcy will be off my credit report before I can even attempt to start the mortgage process. Bankruptcy was suppose to be a clean slate and allow me to start over, and I feel like I still am unable to close this horrible chapter in my life. Does anyone know if there is anything I can do to push this along?
The mortgage experts will chime in, but I believe I read there was a recent change so that if you had your mortgage discharged in bankruptcy, the waiting period is based off of the bankruptcy date, so four years from that date. I believe in terms of required waiting time, it is irrelevant when the bank gets its act together.
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I hope some of the mortgage experts on this forums can/will confirm the statement above that refers to 4 year mark after bankruptcy discharge date as this would be great news for me also!!!
Starting Score: FAKO 558
Thank you for the heads up, I reposted the link. 