Please tell me If I am eligible !

[Deepauk]

I had owned a home in my name which went into Foreclosure in Virginia.  I had two mortgages - American Mort Serv & Citimortgage.

Foreclosure date : Feb 28th 2009.

American Mortgage  foreclosed and took the amt which came out of foreclosure.

Citimortgage did not get a penny. Citimortgage put a remark as 'Charge OFF' on my credit report on Apr 30 2009.

a)   Will I be eligible to apply for a loan either Conventional or FHA loan.

b)   This charge off - will this cause any issue while I apply for a loan since it is almost three years.

Do you think it will be wise to apply in May 2012 for a Mortgage Loan.

Please advise..

D-

[Booner72]

Do you know if the bank has actually taken back the house and completed the foreclosure legally?  (Not related to credit or credit reports).   You have to wait 3 years from that date.

[Deepauk]

Yes ! they took it legally .. I checked it with the county clerks office. they confirmed the date as Feb 30 2009.

[JM-AM]

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@Deepauk wrote:

Yes ! they took it legally .. I checked it with the county clerks office. they confirmed the date as Feb 30 2009.

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Then you should be okay to apply come March 1st 2012.

Just curious to what county you live in as there is no such date as Feb 30, 2009! 

[LondonMassey]

*had to giggle at that*

[Deepauk]

Good Catch.. That was a typo ( I was typing up so fast and frustrated with this process )

Will the charge off which occured due to foreclosure cause any issue while I apply was my question..