Comments on: Bankruptcy, Foreclosure and Short Sales http://www.bestfhalender.com/best-fha-lender/bankruptcy-foreclosure-and-short-sales/ The best source for FHA home loans, FHA refinance loans and FHA purchase mortgages. Sun, 09 Oct 2011 14:30:18 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: kathys85201@gmail.com http://www.bestfhalender.com/best-fha-lender/bankruptcy-foreclosure-and-short-sales/comment-page-1/#comment-5414 kathys85201@gmail.com Sun, 28 Aug 2011 03:44:18 +0000 http://www.bestfhalender.com/?p=56#comment-5414 My husband and I did a short sale on our home after losing income when business was so bad. Both of our incomes were decreased making it impossible for us to afford our home any longer. We closed escrow on the short sale Dec 1st 2009. Our credit score is 730 now . We have money in savings and are still trying to pay off old debt. When will we be able to qualify for another FHA loan? First we were told 2 years now I'm hearing 3 to 4 years. Which is it? Please advise. K S My husband and I did a short sale on our home after losing income when business was so bad. Both of our incomes were decreased making it impossible for us to afford our home any longer. We closed escrow on the short sale Dec 1st 2009. Our credit score is 730 now . We have money in savings and are still trying to pay off old debt. When will we be able to qualify for another FHA loan? First we were told 2 years now I’m hearing 3 to 4 years. Which is it? Please advise. K S

]]> By: Monika R. http://www.bestfhalender.com/best-fha-lender/bankruptcy-foreclosure-and-short-sales/comment-page-1/#comment-5412 Monika R. Thu, 18 Aug 2011 19:07:46 +0000 http://www.bestfhalender.com/?p=56#comment-5412 Would you kindly tell me what qualifies as an extenuating circumstance under FHA guidelines? We waited two years from our short sale closing date and tried to get pre-qualified. We were told it was for extreme health-type issues. I had assumed the loss of my job, plus the forced closing of my husband's business would qualify. I'm assuming we need to wait another year now? Your advice would be greatly appreciated. Would you kindly tell me what qualifies as an extenuating circumstance under FHA guidelines? We waited two years from our short sale closing date and tried to get pre-qualified. We were told it was for extreme health-type issues. I had assumed the loss of my job, plus the forced closing of my husband’s business would qualify. I’m assuming we need to wait another year now? Your advice would be greatly appreciated.

]]> By: Caroline Bordovsky http://www.bestfhalender.com/best-fha-lender/bankruptcy-foreclosure-and-short-sales/comment-page-1/#comment-5380 Caroline Bordovsky Mon, 09 May 2011 15:54:05 +0000 http://www.bestfhalender.com/?p=56#comment-5380 Where did you find this information that states the three years begins from the date the property was transferred back to the lender? Where did you find this information that states the three years begins from the date the property was transferred back to the lender?

]]> By: Ralph flores http://www.bestfhalender.com/best-fha-lender/bankruptcy-foreclosure-and-short-sales/comment-page-1/#comment-5375 Ralph flores Tue, 12 Apr 2011 20:30:14 +0000 http://www.bestfhalender.com/?p=56#comment-5375 I am trying to find out latest FHA underwriting guidelines, there is alot of misinformation, thanks I am trying to find out latest FHA underwriting guidelines, there is alot of misinformation, thanks

]]> By: Corbin Olsen http://www.bestfhalender.com/best-fha-lender/bankruptcy-foreclosure-and-short-sales/comment-page-1/#comment-5360 Corbin Olsen Tue, 15 Mar 2011 19:01:21 +0000 http://www.bestfhalender.com/?p=56#comment-5360 Cari, For an FHA loan you will have to wait 3 years from the date that the house was foreclosed or transferred title from you back to the lender. You should be able to find the date the house was deeded back to the lender in public records depending on what state and county you are in. Let me know if you have any more questions. Corbin Cari,

For an FHA loan you will have to wait 3 years from the date that the house was foreclosed or transferred title from you back to the lender. You should be able to find the date the house was deeded back to the lender in public records depending on what state and county you are in. Let me know if you have any more questions.

Corbin

]]> By: Cari http://www.bestfhalender.com/best-fha-lender/bankruptcy-foreclosure-and-short-sales/comment-page-1/#comment-5359 Cari Tue, 15 Mar 2011 02:55:39 +0000 http://www.bestfhalender.com/?p=56#comment-5359 Is this correct? Thank you for any info you can give us. Is this correct? Thank you for any info you can give us.

]]> By: Cari http://www.bestfhalender.com/best-fha-lender/bankruptcy-foreclosure-and-short-sales/comment-page-1/#comment-5358 Cari Tue, 15 Mar 2011 02:54:20 +0000 http://www.bestfhalender.com/?p=56#comment-5358 We were only 9 days away from the close when our lender informed us of a glitz. We had 2 homes in a bankruptcy, one we were able to sell and keep the payments current, the other went into foreclosure. We have been told that we qualified with the bankruptcy being 2 years. However, now we are told that because one of the houses went into foreclosure that we will have to wait 7 years is that correct? We were only 9 days away from the close when our lender informed us of a glitz. We had 2 homes in a bankruptcy, one we were able to sell and keep the payments current, the other went into foreclosure.
We have been told that we qualified with the bankruptcy being 2 years. However, now we are told that because one of the houses went into foreclosure that we will have to wait 7 years is that correct?

]]> By: Suzanne http://www.bestfhalender.com/best-fha-lender/bankruptcy-foreclosure-and-short-sales/comment-page-1/#comment-5340 Suzanne Tue, 25 Jan 2011 10:23:47 +0000 http://www.bestfhalender.com/?p=56#comment-5340 Hello, my name is Suzanne . First of all, I want to tell you how much I appreciate the valuable information you have posted regarding short sales, and foreclosures. It has helped me tremendously! My question is: When does the waiting period start after a short sale in order to qualify for a new mortgage with FHA? Is it at the beginning of the approval of the short sale, which had a buyer already in line and approved for the home? or is it at the end of the sale date when escrow closed? (As you know it takes a long time). It took my short sale to close 10 months! The buyer was accepted and approved, but the banks took their time closing. My next question is: My husband had a foreclosure on his home, can I use him as a co-signer on my new FHA loan? (when I do qualify) even if his foreclosure has been less than 3 yrs? or should I exclude him altogether on the loan application? I look forward to your reply and recommendations. Thank You! Sincerely, Suzanne Hello, my name is Suzanne . First of all, I want to tell you how much I appreciate the valuable information you have posted regarding short sales, and foreclosures. It has helped me tremendously! My question is: When does the waiting period start after a short sale in order to qualify for a new mortgage with FHA? Is it at the beginning of the approval of the short sale, which had a buyer already in line and approved for the home? or is it at the end of the sale date when escrow closed? (As you know it takes a long time). It took my short sale to close 10 months! The buyer was accepted and approved, but the banks took their time closing. My next question is: My husband had a foreclosure on his home, can I use him as a co-signer on my new FHA loan? (when I do qualify) even if his foreclosure has been less than 3 yrs? or should I exclude him altogether on the loan application? I look forward to your reply and recommendations. Thank You! Sincerely, Suzanne

]]> By: FHA Mortgage Loans Gilbert, Phoenix, Tempe, Arizona | Arizona Mortgage Guru http://www.bestfhalender.com/best-fha-lender/bankruptcy-foreclosure-and-short-sales/comment-page-1/#comment-1775 FHA Mortgage Loans Gilbert, Phoenix, Tempe, Arizona | Arizona Mortgage Guru Fri, 26 Feb 2010 16:02:25 +0000 http://www.bestfhalender.com/?p=56#comment-1775 [...] do not have to have perfect credit to qualify for an FHA loan! Yes, this is great news. In fact, even with a bankruptcy or a mortgage late, it is easier for you to qualify for an FHA loan than a conventional [...] [...] do not have to have perfect credit to qualify for an FHA loan! Yes, this is great news. In fact, even with a bankruptcy or a mortgage late, it is easier for you to qualify for an FHA loan than a conventional [...]

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