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Old 02-18-2018, 07:22 AM
 
9 posts, read 9,282 times
Reputation: 10

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Gm,

I applied for a mortgage FHA, had a foreclosure in 2013 if my rental property, I was to start modicifcation payments on my primary and lost my job in 2015- so we turned in the house and filed bankrupt y in November 2015 - the BK was discharged 2016- I thought I was ready and was denied- i showed and documented our strenuous circumstances- credit score is 680- so now they tell me I have to wait 3 yeas - which is 7 months - I really need to by in Winter Haven because my kids need to start the school there? Any options for us!!! House was 205k- my husband income 52k plus OT- no big debt-very disappointing !!!
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Old 02-18-2018, 08:18 AM
 
1,229 posts, read 890,348 times
Reputation: 2267
Quote:
Originally Posted by Agon1130 View Post
Gm,

I applied for a mortgage FHA, had a foreclosure in 2013 if my rental property, I was to start modicifcation payments on my primary and lost my job in 2015- so we turned in the house and filed bankrupt y in November 2015 - the BK was discharged 2016- I thought I was ready and was denied- i showed and documented our strenuous circumstances- credit score is 680- so now they tell me I have to wait 3 yeas - which is 7 months - I really need to by in Winter Haven because my kids need to start the school there? Any options for us!!! House was 205k- my husband income 52k plus OT- no big debt-very disappointing !!!
Do you have a down payment? Closing costs? Six months to a year of living expenses saved? If not, you should not be approved for any mortgage at this time. Find a rental you can afford in that school district, if possible. Pay off all debt, build a savings, get your credit score up, keep a job. Then, try to purchase again.

Last edited by Sharpydove; 02-18-2018 at 08:27 AM..
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Old 02-19-2018, 11:30 AM
 
3,806 posts, read 8,253,264 times
Reputation: 4943
Quote:
Originally Posted by Agon1130 View Post
Gm,

I applied for a mortgage FHA, had a foreclosure in 2013 if my rental property, I was to start modicifcation payments on my primary and lost my job in 2015- so we turned in the house and filed bankrupt y in November 2015 - the BK was discharged 2016- I thought I was ready and was denied- i showed and documented our strenuous circumstances- credit score is 680- so now they tell me I have to wait 3 yeas - which is 7 months - I really need to by in Winter Haven because my kids need to start the school there? Any options for us!!! House was 205k- my husband income 52k plus OT- no big debt-very disappointing !!!
You can get a mortgage 1 day after the discharge of a Chapter 7 or Foreclosure.

Rate will be in the 7%s.

What is the price of the property and how much can you put down*?




*Not a solicitation.
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Old 02-19-2018, 03:07 PM
 
Location: on the wind
11,708 posts, read 5,359,443 times
Reputation: 38494
Even if technically you could find one, is it a good idea? Maybe not.
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Old 02-19-2018, 07:55 PM
 
Location: MID ATLANTIC
8,140 posts, read 19,989,830 times
Reputation: 9382
OP had issues with a clear CAiVRS. 3 years from the date the claim was paid. Some lenders wait up to a year to file a claim.
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Old 02-19-2018, 08:10 PM
 
6,859 posts, read 3,169,138 times
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Quote:
Originally Posted by AllisonHB View Post
Even if technically you could find one, is it a good idea? Maybe not.
X1000.

My usual fav is "Turned house back in"...Nope. You defaulted on your commitment. The bank doesn't want your house.

Rent.
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