Home Buying in Orange County>Question Details

anonymous, Home Buyer in Mountain House, CA

Do lenders have any flexibility for extenuating circumstances with a Ch 7 (2 y 8m ago) and a bank-delayed short sale of the surrendered house (1y 8m)?

Asked by anonymous, Mountain House, CA Thu Jul 18, 2013

We converted a Ch 13 to Ch 7 after my wife could no longer work due to MS (disability case denied even after 3 drs said she could not work, appealed, still pending after 2 yrs). After she stumbled on the stairs several times, we decided to surrender the 2 story house and move closer to my work and to family, and a 1 story. Our lender and the buyer's bank stalled, dropped balls, argued, ignored each other for months before closing the short sale, a year after the Ch 7 was discharged. Now with 4 mos to go before the magic 2 year post short sail, we've just been told the owners of our rented house wish to move back at the end of the lease Oct 1. Any hope of lender humanity out there?

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Laura Maldonado, BBA, MBA, MLO’s answer
Extenuating circumstances do play a role sometimes. For example, a short-sale as a result of a new job that is 50 miles or more away. I'm very sorry that good people like you get caught in a black hole, does not seem fair. Another black hole is for people who just retired and the financial benefits have not kicked in yet or only have a month of income. I too have an excellent credit repair company that only takes clients by referral. They've been in business for 25 years.
0 votes Thank Flag Link Fri Jul 19, 2013
The best way to determine if you can qualify for a loan today is to contact a lender. I can provide you with the names of three excellent mortgage brokers. Please contact me by email, text or phone for their contact information.

Birgit O'Hearn, Realtor
email: birgit.homesales@gmail.com
Cell: (949)463-7955
Office: (949)282-0088
Keller Williams Realty
DRE# 01886700
0 votes Thank Flag Link Fri Jul 19, 2013
Not in my experience.....here's an idea......have your short sale removed by a credit cleaning company....takes 30-45 days and they can do wonders with your credit.....not all companies are alike...some are not reputable but I do know a good one.....drop me a private note or call me....

Linda M. Lukas
0 votes Thank Flag Link Thu Jul 18, 2013
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