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Foreclosure in Sheboygan : Real Estate Advice

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Activity 3
Thu Jun 25, 2015
Independntgrl answered:
Hi,

I am really surprised at this and it was even allowed to happen. First I was a lender for over 20 year and when I left Wells Fargo bank the systems would not generate a preapproval letter until your loan was approved. AND FHA does not have final say in a loan it is a underwriter who can approve a loan that does not get a system approval. I specialized in FHA loans throughout my career due the fact it is the best loan that makes sense and is not black or white there is grey area. Now if your loan application does not get a preapproval it has to be underwritten by an underwriter before the letter is release. This is a super strict rule in all banks. I do not know of any or many Brokers out there and the inexperienced ones were known in the early 2000 to just give a letter to anyone before credit was pulled etc. The FHA rule might state this is the guideline but credit score du approval is all the reason this loan could have been approved and your loan officer gave you the letter he/she was trained to do.
I know this is a year ago, and if not for you but for others write a detailed letter of all the reasons your were late, filed foreclosure etc. Have a budget explained if your going from 550 rent to 1200 mortgage. Show your finances after taxes....I hate the approvals based upon gross and not net....it is just setting a person up to fail. Do not lie or falsify any info down to your overtime as a prior underwriter all we have time to do is find a reason to deny your loan. Not saying this is the case with you. Your credit report clearly stated the Foreclosure. It is on there for 7-11 years now. I do apologize if my numbers are not exact I left the industry back in 2007 when it became that only a 700 credit score was given respect and people who needed help were sent away without any options.
I seriously hope you looked into other options US bank has a program American Dream again not completely sure. ANd now conventional loans are 3 years for a loan? and it is 5% down with a decent 680 score as well as many many grants always coming up. Recently there was a grant for 4500 non-refundable which I advised my brother to apply for and it covered his down pmt and helped him purchase his first home )% down. Hang in there people things will get better sooner or later. There are too many houses and not enough qualified buyers with the strict guidelines. It is coming for a break and time to trust again. Hope this helps someone.
SIDE NOTE WITH BEN'S QUESTION CALL THE BANK, FILE A COMPLAINT SPEAK TO THE BRANCH MANAGER CONTINUE TO PURSUE YOUR CASH FILE A COMPLAINT WITH THE BETTER BUSINESS. THEY WILL REFUND YOU, YOUR MONEY THIS WAS A TERRIBLE DISSERVICE TOWARD YOU AND YOUR FAMILY. PLEASE LIST THE LENDER/BANK. I MIGHT KNOW A GUY
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Fri Nov 1, 2013
Ashley Krause answered:
Hi Jamaica,
Which foreclosure property are you interested in seeing? You can call, text or email me at your earliest convenience & I'd be happy to set something up. 920-980-9233 or soldwithash@yahoo.com.

Have a great day!
~Ashley Krause
Realtor
Century 21 Rautmann/Schils
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Wed Oct 6, 2010
Sulka asked:
I have been told NC is a warranty deed state and no matter what once the property is sold the remaining balance deficiency is on the seller and the state will hold them liable for 20 years…
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Foreclosure in Sheboygan Zip Codes

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