Filed Bankruptcy five years ago and our house loan doesn't show up on our credit report but they want a payment history to be pre-approved ??

Asked by davebrownjr, Rockville, MD Wed Jul 10, 2013

My wife and I filed bankruptcy about 5 years ago and we have since then worked real hard on our credit and got up near 680 each. Last year we tried working with our bank that we have the loan with to get a refi but was turned down because we don’t qualify we made every payment on time and had good credit at that point we both are at the same jobs for around 18 and 16 years a piece but it didn’t matter they were not going to do it. One day we call to found out the status of the fourth time we tried and the guy at Citimortgage said we were not in bad shape and they were not going to do it unless we were welling to pay but had said if we missed a few payments it would help us and he also said our house wasn’t showing on our credit report. We freaked out and found out why and were okay with that because we had worked on our credit already so we went ahead and were late on some payments like he said and they still didn’t give us a refi !! Now 6 months later we’re trying to get pre-approved

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6
Piero Marinu…, Agent, Silver Spring, MD
Wed Jul 10, 2013
Dave, it doesn't sound to me like you should have a problem doing what you are describing (assuming the equity is enough for the downpayment of the house you want to buy).

I don't follow your last comment about showing someone a report, but I would encourage you again to call Catherine and work through that part.
1 vote
Piero Marinu…, Agent, Silver Spring, MD
Wed Jul 10, 2013
Dave, my advice is to call Catherine Purcell below (202 573-6035). I honestly don't know if I've spoken with a loan officer/lender with more knowledge on the ins and outs of the difficulties associated with credit, loan modifications, etc.

The unfortunate part of your answer is that the bank is the last source you should get advice from in terms of how you should achieve a refinance or pre-approval in your situation. I've heard similar stories from several clients where the bank made a verbal promise/suggestion and then completely ignored it.

Again, call Catherine if you want to better your understanding of things and have a chance to get your loan done.
1 vote
Catherine Pu…, , Silver Spring, MD
Wed Jul 10, 2013
Hello Dave,

Can you call me so that we can discuss your scenario. My cell phone is 202 573-6035.

I handle post-bankruptcy mortgage cases and may be able to help you!

Sincerely,

Catherine Purcell
202 573-6035
catherinep@fairwaymc.com
1 vote
Catherine Pu…, , Silver Spring, MD
Wed Jul 10, 2013
Thanks Piero, Dave called and we will talk tomorrow at 10am. Are you available then for comps?
0 votes
davebrownjr, Both Buyer And Seller, Rockville, MD
Wed Jul 10, 2013
to sum up what I'm trying to say is we want to sell our home get the equity and buy a new home without showing a payment history seeing that its not on our credit report the mortgage that is. our score is as of now around 650 680 and we should have around $60.000 in equity or more depending on how good the agent is ..if they cant see it then why should we give them that report we just want a cheaper payment every month
0 votes
Justin Niels…, Agent, Chevy Chase, MD
Wed Jul 10, 2013
Sounds like you should contact your BK Attorney
0 votes
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