Looking for any advice. I just got turned down by the automated Fannie Mae and Freddie Mac. But am hoping there is something possible that I will be able to do. Here are my details: My morgatage broker ran my credit and came back with: 629, 623, 621. Last year I made 275K. Looking for a loan for 410,000, with 5% down. Due to FHA guidelines, I can't get a mortage FHA for that high, so FHA s out.
My issue is I lost my house to foreclosure 3 years ago. I had to go out on medical leave, but my job's insurance wouldn't pay. I couldn't work, so didn't get paid...I ended up having to take the insurance company to court. I won, but by that point it was to late, I had already lost my house.
Today makes it exactly 4 years on my foreclosure. My mortagae broker said, he is going to run it again now that it is officially 4 years, and not 3. But not sure that will help. He also is requesting a manual reveiw from Fannie and Freddie.
Anyone have any expereince with a 4 year foreclosure? Any and all help would be greatly appreciated.