Established Member
co791
Posts: 20
Registered: ‎05-24-2012
4 yrs Foreclosure/ Submitted proof Waiting on Confirmation from HUD to close
[ Edited ]

So My story goes like this:

       Contract signed on june 15th.  FHA  3.5 %  down, Foreclosure was 4 years ago, fico score ranged from 640-666 during this process.  Throughtout the time of my application I settled any collection that was on my credit, so that no longer was an issue, neither was income, I make good money , Solid rent history for 3 years with a refererance from my landlord.

        The issue came up in the first week of August, my 2nd mortgage on the foreclosed home, ( Citifinancial) was settled.  Residential Home Funding wanted proof that it was over 3 years foreclosure for the second mortgage.   Hello?  I tried explaining that the 2nd went to charge off , to which I then settled. ( Had settlement letter as well).

         Fast forward to last week.  I submitted a copy of the original Judgement of Foreclosure which named Citifinancial , myself and HUD, and of course the original Mortgage through CitiMortgage.   The underwriter recieves it, likes it, but has to send it out to HUD to confirm it?

          Ive been trying to get this done before my son starts the first day of school, and my landlord is currently selling the house I am in now. Imagine the tension. Does anyone know or has had any experience like this, where you have to wait for HUD to reply to an underwriter?  Im scared to death that this could drag on even longer.

          Any help would be appreciated!