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Invstnlfp, Home Buyer in New York, NY
Invstnlfp answered:
Can you buy a home after bankruptcy?
I work for a direct lender in the mortgage industry who offers conventional, FHA VA, and USDA loans in all 50 states. Are lowest score we accept for government loans are 550 when most l ... more
0 votes Share Flag Sun Jan 10, 2016 Home Buying in The Reserve
Rodney Willi…, Both Buyer and Seller in Ocala, FL
Rodney Williams CAHP answered:
when is a foreclosure off your credit report?
I haven't read all the answers here, but the correct answer is seven years. Although we have been able to have the reporting removed earlier than the seven year mark.
1 vote Share Flag Fri Nov 6, 2015 Home Buying in The Reserve
Danny Orbe, Real Estate Pro in Raleigh, NC
Danny Orbe answered:
How is it that someone can buy a house after filing Chapter 7 but I cant buy a house with a credit score in the 585 range. I just dont get it.
There is a great program that can help people in your situation qualify to purchase a home. We work closely with the Home Partners of America who work with people with credit scores in ... more
0 votes Share Flag Tue May 26, 2015 Home Buying in The Reserve
John Burke, Real Estate Pro in Austin, TX
John Burke answered:
Refinance after bankruptcy..but foreclosure found? Can it be done?
Hi Jorez,

Unfortuanetly this happens a lot. For some reason the banks drag their feet on foreclosing and the consumer (you) pay the price for it.

It is still possible to do the re ... more
0 votes Share Flag Fri May 22, 2015 Home Buying in The Reserve
Eric Morgens…, Home Buyer in Laguna Beach, CA
Eric Morgenson answered:
can you buy a house after a forecloseure?
YES you can buy a Home a day after a foreclosure or short sale!! These loans require 20% down or 80% loan to value. Low FICO score are OK, a low score is normal after a foreclosure. Ema ... more
2 votes Share Flag Thu May 21, 2015 Home Buying in The Reserve
Eric Morgens…, Home Buyer in Laguna Beach, CA
Eric Morgenson answered:
Can I buy a home without proving income via W2? Have income, but irregular. Want to get house w mortgage at same level as rent been paying for 10 yrs.
YES, it's called the Bank Statement loan for those folks who are self employed. Email me at Eric.Morgenson@AngelOakHomeLoans.com for a rate quote. These are all 30 year fixed loans with ... more
0 votes Share Flag Thu May 21, 2015 Home Buying in The Reserve
Tony Grech, Real Estate Pro in Southfield, MI
Tony Grech answered:
I bought my house four years ago on a VA approved loan. If I sell it, what do I have to do about the VA loan and can I use the loan again?? .
Hi Ed
If you sell the home you must pay off the balance of the VA loan with the proceeds from the sale. This is taken care of at the time of closing.

If you are purchasing another h ... more
0 votes Share Flag Mon May 18, 2015 Home Buying in The Reserve
Ernie Behrle, Real Estate Pro in Raleigh, NC
Ernie Behrle answered:
How long do unpaid credit cards stay on a credit report?
As long as you owe anything on a credit card, its part of your credit history. I have been told very good sources that as long as you don't have too many cards and try to keep them at ... more
0 votes Share Flag Sun May 17, 2015 Home Buying in The Reserve
Jmiccio, Home Buyer in Scotch Plains, NJ
Jmiccio answered:
My mortgage bank approved a short sale and forgiven my second a couple of years ago. Will I be able to qualify for a mortgage loan ?
Banama,

You can obtain FHA financing three years from the date of the short sale.
0 votes Share Flag Fri May 15, 2015 Home Buying in The Reserve
Jmiccio, Home Buyer in Scotch Plains, NJ
Jmiccio answered:
How long does a discharged bankruptsy have to remain on credit reports? How can it be removed if the time is pasted already?
Darlene,

Discharged bankrupsies will stay of your report forever. The type of bankrupsy will determine when you can obtain mortgage financing. The years are counted based on the da ... more
0 votes Share Flag Fri May 15, 2015 Home Buying in The Reserve
Jmiccio, Home Buyer in Scotch Plains, NJ
Jmiccio answered:
how long does a foreclosure stay on your record?
It will stay on your report forever. You will not be able to obtain mortgage financing for a period of 7 years.
0 votes Share Flag Fri May 15, 2015 Home Buying in The Reserve
Jmiccio, Home Buyer in Scotch Plains, NJ
Jmiccio answered:
After a judgment is paid, how long before it is removed from your credit report? Thank you
It never comes off your credit report. It will however report as paid.
0 votes Share Flag Fri May 15, 2015 Home Buying in The Reserve
Dan Tabit, Real Estate Pro in Issaquah, WA
Dan Tabit answered:
my home has been foreclosed on but yet not sold. is it to late to claim bankruptcy so i am not held liable and expected to pay on a 1099?
Dpope,
Get to an attorney tomorrow. If you are contemplating bankruptcy you'll need one anyway. We don't know enough details to answer any better than this.
0 votes Share Flag Thu May 14, 2015 Foreclosure in The Reserve
Noah Seidenb…, Real Estate Pro in Evanston, IL
Noah Seidenberg answered:
how long does a short sale stay on credit report?
It depends on the circumstances. A few years for sure.
0 votes Share Flag Thu May 14, 2015 Home Buying in The Reserve
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