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Foreclosure in 60564 : Real Estate Advice

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Thu Feb 23, 2012
answered:
Hello Gamisko,
I have closed several loans for individuals who have had foreclosure's in the past. The underwriter will be looking for documentation that shows, not only that the property was foreclosed on at least 3 years prior, however, they will also want to ensure that the bank that owned the property was able to sell the property and get the debt off their books, at least 3 years prior to you entering a new mortgage. Hope this helps.

Cecelia Marlow
Chicago Bancorp
Mortgage Banker
312-738-6294 direct
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