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Retained Home,( Did Not re-affirm). Foreclosure time years later now Used

New Member

Retained Home,( Did Not re-affirm). Foreclosure time years later now Used

I've read similar stories on here but would love a bit of clarity.

Bankruptcy 07/2015
VA mortgage included
Home retained ( not surrendered)
Mortgage Not reaffirmed.
Property Vacated 07/2015
Tried to sell to maximize remaining VA entitlement. Unable.
Property foreclosed 01/2017

Long story short. I am 2 weeks from closing on new home and this just killed the deal. I am being told by Lender 1 the foreclosure date is now the beginning of the seasoning period not the BK discharge date.

Lender 2 after initially saying wouldn't be a problem not going to "double hit" you, has said they too will use the foreclosure date.

Lender 3 .(USAA) says not a problem at all and is ready to move forward with the loan.

While I have some faith in what USAA has said, I am panicked they at some point they will come to the same conclusion...

Any help would be great.

Message 1 of 8
7 REPLIES
Valued Contributor

Re: Retained Home,( Did Not re-affirm). Foreclosure time years later now Used

From everything I've read, ANY responsibility you had for that home ended with your BK. I fully believe USAA is right here.

Ch 7 Discharge May 2015
Discover/Target/NFCU CLOC/NFCU Cash Rewards/PenFed Power Cash Rewards/PenFed Pathfinder AMEX - $60k total revolving
Message 2 of 8
New Contributor

Re: Retained Home,( Did Not re-affirm). Foreclosure time years later now Used

Curious as to what the outcome was to this?

Message 3 of 8
New Member

Re: Retained Home,( Did Not re-affirm). Foreclosure time years later now Used

USAA had no problem with it. Sitting on my couch in my new home.
Message 4 of 8
Contributor

Re: Retained Home,( Did Not re-affirm). Foreclosure time years later now Used


@Dregene wrote:
USAA had no problem with it. Sitting on my couch in my new home.

Awesome! 

 

Congrats!


Message 5 of 8
New Contributor

Re: Retained Home,( Did Not re-affirm). Foreclosure time years later now Used


@Dregene wrote:
USAA had no problem with it. Sitting on my couch in my new home.

So did your previous property foreclose and you acquired a new home? or Did you acquire a new home and your other property not foreclose yet?

Message 6 of 8
New Member

Re: Retained Home,( Did Not re-affirm). Foreclosure time years later now Used

Bankruptcy discharge july 2015. tried to Deed in Lieu, ex wife wouldn't sign off the paperwork . Renters moved out August 2015. Foreclosure January 2017. Bought new home March 2018
Message 7 of 8
Frequent Contributor

Re: Retained Home,( Did Not re-affirm). Foreclosure time years later now Used

Congrats! This gives me a little hope! Our BK13 was DC in March 2017. Did not reaffirm Home, but signed deed in lieu in February 2018. I’ll try USAA in March of 2019 when we pass the 2 year window!
RBFCU Premier $25K, Sam’s Club MC $25K, Cap1 Venture $20K, Employer CU LOC $20K, Navy GoRewards $18K, PenFed Power Cash $10K, PenFed PLOC $10k, Navy Platinum $5.7K, SMG $5.5K, PenFed Promise $2.5K, Total Rewards $3K, Discover It $1.7K, Cap One QS1 $850, Overstock $17.5K
DC BK13 3/17....TU clean due to EE as of 12/17! EX clean as of 4/18! EQ clean as of 5/4/18!
Message 8 of 8