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Found 8 results

  1. Hi guys, Well, I've been trying to buy a house, I was shooting for a conventional loan but just found out that since I had a short sale I don't qualify for a conventional per new rules (funny, earlier in the year I was able to do conventional, who's making these rules? lol), lender said FHA will work. Is there any loophole that allows me to do conventional? If not I still want to see what you guys think about the numbers under my situation. This is my situation: - short sale in november 2011 - 680 credit score (thanks for advice was able to take out some disputes) - 130K price
  2. Hello, if a similar post exists, please let me know and discard my post. Thank you. Three years ago, I had a lengthy short sale. At the end of the process, I settled with the bank by paying as much as we can on the loan with a balance as debt forgiveness. In the after settlement letter, the bank said the debt forgiveness will be reported as "account paid in full for less than the full balance". As little as I understood back then, I didn't think this would be a problem for getting a mortgage in the future when we rebuild our life. Now we are trying to buy a home and getting a mortg
  3. I found my dream home, its a short sale. Realtor doesn't want to put a offer on it she says 113,000 is to get me interested. Then when I put a offer on it the bank will come back with the real price. I say okay lets see what happens am I missing something.
  4. CBer's, I want to ultimately get a second mortgage charge off tradeline removed or at least changed to a more favorable status. First attempted a loan mod that was eventually denied. I then proceeded to do a short sale. The dates and amount from the short sale are correctly reported on my CR. I have read Psych Doc's transcript, which had a lot of good information, but I didn't see specifics for dealing with a mortgage charge off. When dealing with the OC he recommended using the FCBA, but to me that seems more for credit card billing errors. I am thinking I should try sending a valida
  5. Okay, here's my story...I obtained a VA loan through BOA, then re-financed through Wells-Fargo Home Mortgage, I later sold my home via short sale after missing three payments to get Wells-Fargo to agree to it. The re-sale price was about 1/3 of what I paid for the house initially (thanks to the housing bubble burst). My questions are: 1. Is the VA loan I initially obtained wiped out when it was re-fied by Wells-Fargo (i.e. did Wells-Fargo "pay off" the VA loan)? Or... 2. Did the VA loan (guaranty) transfer to Wells-Fargo when I re-fied? 3. If the VA guaranty transferred, wouldn't it
  6. Hi, I'm 12 months deliqent on my mortgage payment for my condo, as part of my short sale process. If I pull out of the short sale and try to do a traditional sale (prices are on the rise here), will there be less damage to my credit, or is all the damage already done? Thanks!
  7. I sold my home as a short sale in October 2010 and the mortgage was originally with Wilmington Trust/Dovenmuehle. I walked away from settlement owing nothing (so I thought) and when I checked my credit report in January 2011 it was reported as "Settlement Accepted;Paid in Full/less than full balance" Balance Due=0, Account Status= Paid In 2011 M&T Bank purchased Wilmington Trust. I didn't have any accounts with them so I received no notification other than what I heard or saw on the news. So imagine my surprise when I checked my report yesterday to discover that M&T reopened the
  8. Bk chapter 7 discharged in 9/2010 Filed Bk Chapter 13 after the Chapter 7 discharge to save the house, but the Bk Chapter 13 was dismissed shortly afterward (around 12/2010) because all debts were already discharged in the Chapter 7 and I did not have a job. In Bankruptcy court for Chapter 7, I agreed to allow the lender to foreclose. They did not start foreclosure even though NODs were previously issued. I pursued short sale. The short sale closed in 12/2011. I am getting conflicting responses to the following questions: When can I qualify for a loan? Are we counting from the BK
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