cancel
Showing results for 
Search instead for 
Did you mean: 

FHA and foreclosure

tag
Klesko
Regular Contributor

FHA and foreclosure

So I have been fighting with experian to get the home loan account which was foreclosed in July 2009 to get fixed. It was showing Foreclosure started OCT 2009 and this was causing me to be denied automated UW.

 

So they finally updated. Now its showing Foreclosed July 2009, Foreclosed Aug 2009. I know the Aug date is wrong but at this point I am not going to fight it.

 

Can my loan officer run me through automated UW now or will he have to wait until Sept?

Penfed Visa 10k | Penfed PLOC 25k | Citi Hhonors 10k | Total Rewards Visa $25k | Alliant Visa $15k | Barclays Arrival + $13k | Barclays AAdvantage $5k | Barclays Apple $2.2k | CapOne QS WMC $26.5k | CapOne QS $5k | CapOne Plat $5k | Discover 8.5k | Allegacy Visa $6k | DCU Visa $7.5k | Best Buy Visa $11k | Lowes Store Card $30k | Walmart Store Card $10k | Amazon Store Card $25k
Message 1 of 7
6 REPLIES 6
Hammer23
Frequent Contributor

Re: FHA and foreclosure

The report date may not matter.

 

From what I have learned it is 3 years from the date your name transferred off the title / deed to your old home. This (in my state) is evidenced by the Sherrif's deed.

 

My foreclosure was completed in Sept 2009 but the Sherrif's deed wasn't issued until 2/2010 so my three years doesn't start until then, That means I have to wait till 2/2013 to be FHA eligible.

 

From what I have been told the application date has to be just one day past the date on the deed transfer. So if your ownership transferred on 8.28.2009 then you can apply on 8.29.2012.

 

I went USDA because the lender I used only required 1 year post foreclosure.

 

 

WF Home Projects Visa $8500 / Towpath CU Visa $7000 / Chase Freedom Visa $5500 / Cap 1 QS Visa Sig $5000 / Barclaycard Ring MC $5000 / GE Lowes $5000 / Citi Best Buy MC $4250 / Barclaycard Rewards Visa $4000 / BFG CU Visa $3500 / Citi Sears$3000 / WF Visa $2000 / GE Walmart $1900 / GE Care Credit $1900 / GE Amazon $1400 / Cap 1 Kohls $1000 / GE Old Navy $800 / Webbank Fingerhut $700
Message 2 of 7
sewmuchdebt
Regular Contributor

Re: FHA and foreclosure

i still had to do a third party call with BOA(foreclosure) and the lender to verify dates of foreclosure. BOA person had the year wrong and i had to correct her. i think each lender probably verifies differently but the time period is the same with that 3 yrs from date deed transferred out of your name.

Starting Score: EQ 505 jul09
Current Score: EQ 702 TU 693 EX 692 apr12
Goal Score: 700+


Take the FICO Fitness Challenge
Message 3 of 7
Klesko
Regular Contributor

Re: FHA and foreclosure

I have the trustees deed and they have already got this and I have passed their UW process. I just need to get though automated FHA UW for them to complete.

Penfed Visa 10k | Penfed PLOC 25k | Citi Hhonors 10k | Total Rewards Visa $25k | Alliant Visa $15k | Barclays Arrival + $13k | Barclays AAdvantage $5k | Barclays Apple $2.2k | CapOne QS WMC $26.5k | CapOne QS $5k | CapOne Plat $5k | Discover 8.5k | Allegacy Visa $6k | DCU Visa $7.5k | Best Buy Visa $11k | Lowes Store Card $30k | Walmart Store Card $10k | Amazon Store Card $25k
Message 4 of 7
sewmuchdebt
Regular Contributor

Re: FHA and foreclosure

then there must be something in your caivars (hope im spelling that right) or is it cavairs. anytime you default on federal loan it is in this database

Starting Score: EQ 505 jul09
Current Score: EQ 702 TU 693 EX 692 apr12
Goal Score: 700+


Take the FICO Fitness Challenge
Message 5 of 7
Klesko
Regular Contributor

Re: FHA and foreclosure

It wasnt a federal loan...

Penfed Visa 10k | Penfed PLOC 25k | Citi Hhonors 10k | Total Rewards Visa $25k | Alliant Visa $15k | Barclays Arrival + $13k | Barclays AAdvantage $5k | Barclays Apple $2.2k | CapOne QS WMC $26.5k | CapOne QS $5k | CapOne Plat $5k | Discover 8.5k | Allegacy Visa $6k | DCU Visa $7.5k | Best Buy Visa $11k | Lowes Store Card $30k | Walmart Store Card $10k | Amazon Store Card $25k
Message 6 of 7
Maingal
Valued Member

Re: FHA and foreclosure

Can you let me know who you used for your lender my foreclosure when was in 09 but the finally changed the deed in 11/2012. I was part of the taylor bean and whittaker which as a cluster of you know what, due to that my court order shows no balance due BOA had to eat that.

Message 7 of 7
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.