2010 Reaffirm

[wan2live]

Hi,

 

I filed for BK in 2010 and re affirmed my mortgage and the BK discharged in 2011 so I have until August 18 for the BK to go away.

 

Flash forward I needed to do a Hamp in 14’ all wqs good, but USBank never started reporting me after the BK Discharge, I never brought it up since it never affected me negatively in mortgage.

 

Flash forward again to 2016, I rented my home out to friends when I moved out of state and in short I ended up in default and worked with my MAP specialist to try for another HAMP, it was denied but I never received an explanation as to why. The home went up and down from the block and finally it sold in July of 17.

 

I have yet to get anything in the mail from an attorney or US Bank on what the sale was, if I owe anything. The home sold for 25K more than what I owed, I found that out on the county website.

 

Anyhow, I have nothing on my credit about this foreclosure, when can they add this? Will they?

 

If I try another FHA there will be a title check so I am well outside of the 3 year waiting period, I think.

 

I have great income and my wife has the great credit, I cant co sign if I am stuck in the weeds.

 

 

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[tiggerlgh]

There is no question but since you reaffirmed you will have to wait get a mortgage after your foreclosure. You will be asked about it on the app and they will find it in title search.

 

Also was the 25k plus what you owed before or after attorney and late fees? If after you should get a refund from the bank. But with that much equity why did you eat it up and let it go to foreclosure vs selling it?

[wan2live]

There is no question but since you reaffirmed you will have to wait get a mortgage after your foreclosure. You will be asked about it on the app and they will find it in title search.

 

Also was the 25k plus what you owed before or after attorney and late fees? If after you should get a refund from the bank. But with that much equity why did you eat it up and let it go to foreclosure vs selling it?

I was an out of state land lord and like I said, US Bank denied the HAMP and suspended the auction then put it back up in July, I was traveling and did not get the notice until I returned. I asked for a short sale approval, never received anything.

 

The tenants were friends that stopped paying me rent, they had children and I have a heart so I got the shaft out of it.

 

Yes the home sold for over what I owed and like I said I have not received anything from US bank or their attorney, but I would think I would get my 1099 by the 31st

 

The HAMP was in 14’ and the auction was 7/16

 

 

 

 

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[wan2live]

 

There is no question but since you reaffirmed you will have to wait get a mortgage after your foreclosure. You will be asked about it on the app and they will find it in title search.

 

Also was the 25k plus what you owed before or after attorney and late fees? If after you should get a refund from the bank. But with that much equity why did you eat it up and let it go to foreclosure vs selling it?

I was an out of state land lord and like I said, US Bank denied the HAMP and suspended the auction then put it back up in July, I was traveling and did not get the notice until I returned. I asked for a short sale approval, never received anything.

 

The tenants were friends that stopped paying me rent, they had children and I have a heart so I got the shaft out of it.

 

Yes the home sold for over what I owed and like I said I have not received anything from US bank or their attorney, but I would think I would get my 1099 by the 31st

 

The HAMP was in 14’ and the auction was 7/16

 

 

 

 

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And also US Bank is not on any of my CR’s

 

 

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[tiggerlgh]

It doesn’t matter if it’s on your report or not. It’s fraud if you don’t disclose it when asked on the App and they will find it in title search. I think it’s 3 years from the foreclosure sale but any delinquency after BK as this was may extend that timeframe.

 

You can only modify through HAMP once. And most only allow one mod on a loan anyway.

 

ETA I doubt there was much to 1099 on but am sure the fees and charges tw up most of your equity.

 

I get it it’s hard to be an out of state landlord I am as wel.

 

If you had equity there was nothing to short sale. You should have just sold it.

Edited January 22, 2018 by tiggerlgh

[wan2live]

It doesn’t matter if it’s on your report or not. It’s fraud if you don’t disclose it when asked on the App and they will find it in title search. I think it’s 3 years from the foreclosure sale but any delinquency after BK as this was may extend that timeframe.

 

You can only modify through HAMP once. And most only allow one mod on a loan anyway.

 

ETA I doubt there was much to 1099 on but am sure the fees and charges tw up most of your equity.

 

I get it it’s hard to be an out of state landlord I am as wel.

 

If you had equity there was nothing to short sale. You should have just sold it.

I am not attempting to commit fraud, curious as to why US Bank never started reporting again. As for the equity, if I knew there was 20 +k in equity in the house it would be a different story. The house suffered a loss in April of 16 and State Farm made me whole with the basement rebuild due to water/mold.

 

The value of the home when I tried to refi in September of 17 after appraisal was 151.00 I owed 149 the home sold for 170 and I owed 135, yes I know there are fee’s etc, but I have not received one communication since 7/17.

 

 

 

 

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[tiggerlgh]

Your dates aren’t lining up. But what is your question?

[Kuuner]

probably wasn't any equity to speak of after foreclosure fees and costs. You said you owed 149 and the home sold for 170, then you said you owed 135? Anyway, if there was no deficiency, there is no 1099. No one but the lender knows why it wasn't reported to the bureaus. I'd call it a day and move on.

[wan2live]

probably wasn't any equity to speak of after foreclosure fees and costs. You said you owed 149 and the home sold for 170, then you said you owed 135? Anyway, if there was no deficiency, there is no 1099. No one but the lender knows why it wasn't reported to the bureaus. I'd call it a day and move on.

This is the answer I was looking for.

 

Right - the house appraised for 125 in 9/16

 

I Owed 139

 

The house sold for 170.

 

Now I did not think there was equity enough to pursue the house.

 

Anyhow thanks.

 

 

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[wan2live]

 

Just some info, funny enough eproperty watch emailed me today.

 

 

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[VAloanMaster]

Hi,

 

I filed for BK in 2010 and re affirmed my mortgage and the BK discharged in 2011 so I have until August 18 for the BK to go away.

 

Flash forward I needed to do a Hamp in 14’ all wqs good, but USBank never started reporting me after the BK Discharge, I never brought it up since it never affected me negatively in mortgage.

 

Flash forward again to 2016, I rented my home out to friends when I moved out of state and in short I ended up in default and worked with my MAP specialist to try for another HAMP, it was denied but I never received an explanation as to why. The home went up and down from the block and finally it sold in July of 17.

 

I have yet to get anything in the mail from an attorney or US Bank on what the sale was, if I owe anything. The home sold for 25K more than what I owed, I found that out on the county website.

 

Anyhow, I have nothing on my credit about this foreclosure, when can they add this? Will they?

 

If I try another FHA there will be a title check so I am well outside of the 3 year waiting period, I think.

 

I have great income and my wife has the great credit, I cant co sign if I am stuck in the weeds.

 

 

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Hi Wan2live,

 

Unfortunately because you reaffirmed the mortgage your eligibility clock starts when the bank takes back title. In your case that was July of 2017 so you won't be eligible for an FHA mortgage for at least 3 years from that date unless of course the previous mortgage was FHA in which case you'll be in the CAIVRS system so you may not be eligible for 6-8 months after the initial 3 year wait.

[wan2live]

 

Hi,

 

I filed for BK in 2010 and re affirmed my mortgage and the BK discharged in 2011 so I have until August 18 for the BK to go away.

 

Flash forward I needed to do a Hamp in 14’ all wqs good, but USBank never started reporting me after the BK Discharge, I never brought it up since it never affected me negatively in mortgage.

 

Flash forward again to 2016, I rented my home out to friends when I moved out of state and in short I ended up in default and worked with my MAP specialist to try for another HAMP, it was denied but I never received an explanation as to why. The home went up and down from the block and finally it sold in July of 17.

 

I have yet to get anything in the mail from an attorney or US Bank on what the sale was, if I owe anything. The home sold for 25K more than what I owed, I found that out on the county website.

 

Anyhow, I have nothing on my credit about this foreclosure, when can they add this? Will they?

 

If I try another FHA there will be a title check so I am well outside of the 3 year waiting period, I think.

 

I have great income and my wife has the great credit, I cant co sign if I am stuck in the weeds.

 

 

Sent from my iPhone using Tapatalk

Hi Wan2live,

 

Unfortunately because you reaffirmed the mortgage your eligibility clock starts when the bank takes back title. In your case that was July of 2017 so you won't be eligible for an FHA mortgage for at least 3 years from that date unless of course the previous mortgage was FHA in which case you'll be in the CAIVRS system so you may not be eligible for 6-8 months after the initial 3 year wait.

thank you for the info. This was my only FHA, I’ll be gardening until July 2021 which is okay since my wife now can qualify for a home, in 2021 we will buy together.

 

Much appreciated.

 

 

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