When can purchase BofA forgetting about Notice of Default which was in 2/09 and evicting and padlocking home 1/09 and foreclosed 10/11? Credit is good

Asked by Brandi, Simi Valley, CA Wed Apr 18, 2012

When can purchase BofA forgetting about Notice of Default which was in 2/09 and evicting and padlocking home 1/09 and foreclosed 10/11? Credit is good. It is over 700. That is the only item hurting me is that BofA neglected to foreclose on property after being evicted and padlocking home in 1/09. Is there a bank or CU that will help or how long do I have to wait?

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4
Carl Henker, , 95928
Thu Apr 19, 2012
The waiting period starts with the completion date of the foreclosure 10/2011, so you have at least another year to wait.
1 vote
Suzanne MacD…, Agent, Succasunna, NJ
Thu Apr 19, 2012
The usual wait period is 2 years. I don't know if you can do anything about BofA or not, I would recommend talking to a lawyer or just waiting the two years.
1 vote
Robert Chome…, , San Diego, CA
Thu Apr 19, 2012
You will likely have to wait until October 2014 to qualify for any type of standard bank loan. FHA is the fastest wait which is 3 years. If your a veteran VA only requires 2 yrs. The key is to check the date the deed transferred out of your name on the foreclosed house. That is the date the 3 yr waiting period will begin.
0 votes
, ,
Thu Apr 19, 2012
Um Suzanne, The wait period for buying after a foreclosure is at least 3 years with FHA and USDA. The only loan program that has a 2 year wait after a foreclosure is VA.
0 votes
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