I have a 2yr old BK7 & a home was discharged. VA lenders say I have to wait 2yrs from foreclosure date not discharge date. Can anyone help?

Asked by talon.shelley, Las Vegas, NV Fri Apr 12, 2013

I contacted the VA and they said that their criteria is 2 years from "termination of loan". Loans are terminated in bankruptcy not foreclosure. I cant help it if the bank then took 10 extra months to foreclose right? Is there any VA lender that will consider us based on excellent income, debt ratio, and restored credit? The home we had was not a VA loan and we have our VA certificate on hand.

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5
Robert Adams, Agent, Henderson, NV
Wed Apr 17, 2013
From my experience they use the foreclosure/short sale dates not the discharge date.



Best Regards,
Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
C:702-349-9175
O:702-932-8813
F:702-932-8826
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com
0 votes
Lucy Pinon, Agent, 89169, NV
Sun Apr 14, 2013
Yes, it is true. For the VA it is at least two years from foreclosure date. And, it is impossible to get them to bend that rule. That is why it is better to short sale, then foreclosure. But, what is done, is done.
If you have excellent credit, perhaps you can look into other finance options.
0 votes
Jim Eagan, Agent, Las Vegas, NV
Sat Apr 13, 2013
These types of questions are best answered by mortgage brokers and not agents. I'm not qualified to give you the advice you need. My lender in Vegas is excellent and can answer that question if you want their contact info. Jim (702) 287-1092
0 votes
Billy Alt, , Las Vegas, NV
Fri Apr 12, 2013
Hello Shelley,

This has been a common problem with people that have discharged the debt via Chapter 7. You may actually still own the property and you may need to complete a short sale, or deed in lieu. Please email me your contact info and address of the property in question and I can find out if the property is still in your name.

Billy Alt
Wynn Realty Group
CDPE, SFR, CIAS
702-250-1090
Billy@Altgrouplv.com
Web Reference:  http://Www.Altgrouplv.com
0 votes
It was foreclosed on 12/12/2011. We were discharged from our bankruptcy 4/2011. So, we meet the 2 year rule and can buy NOW, as long as a lender will overlook the this issue.
Flag Fri Apr 12, 2013
Denny Hebibo…, Agent, Las Vegas, NV
Fri Apr 12, 2013
Hi talon.shelley, give me call so we can talk... have a lender that most likely could work out for you...
My contact info is below.
Warmest regards,

DENNY HEBIBOVICH - REALTOR
REALTY ONE GROUP, INC.
CELL: 702-241-6110
EMAIL: Denny@PropertiesofLasVegas.com
WEB: http://www.PropertiesofLasVegas.com
WEB: http://awp208099.las.mlxchange.com
0 votes
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