Govt Loan not possible-do I have any options?

[desperatetobuy]

OK here is my mess in a nutshell:

 

Ch 7 including home was discharged in 9/08-had an 80/20 loan w USDA and Susquehanna. USDA pd the Suquehanna portion in full so they could take first lienholder and reported to CAIVRS as in default but nothing else has happened. They have yet to put on market or even begin foreclosure so house is still in my name- I have read through several posts and if I'm understanding correctly, I have met the time restraints on the bankruptcy however, since house has not been foreclosed, the clock has not even started ticking yet therefore, I am ineligible for any govt loan.

 

I have about $30k saved as a down payment ($15k from my 401k that I can borrow to put as a down pmt). My mid score is about 620 and I have 5 medical collections that show paid in full as of March 2011. Everything else, car loan, a couple of credit cards, small personal loan etc) have all reported paid on time, more than minimum and my utilization hovers around 5%. My income is, at worst 80k a year (some is commission so it fluctuates)

 

Is there any hope at all for me, it seems I keep hitting a wall with this house and I have tried short sell, even had an offer in writing, but the neighbor beside me wants the house and has went to great lengths to sabbotage my efforts.

 

I appreciate any input.

[jop3]

Unfortunately, until something happens with that home, you won't qualify for an government or conventional financing.

[desperatetobuy]

That was my fear-so any bank that is telling me that may have an 'in house program' that I may be eligible for..is this just a pipe dream?

[jop3]

Not necessarily, an "in-house" program means it's not government or Fannie/Freddie, it means they lend their own money and don't sell it. Since they aren't selling it, they don't have to adhere to those guidelines. It's not impossible.

[desperatetobuy]

OK well it looks as if that may be my only hope so she is supposed to be calling me soon to let me know what I need to do to start this process.