You can request a CAIVRS suppression from HUD/FHA since the home was awarded to the ex-wife. You will need to supply a copy of the divorce decree as well as a written request outlining why you qualify for a suppression.
Be forewarned, you are dealing with a government entity so you will likely end up sending the same documents in multiple times. Try not to get too frustrated when it happens and just stay focused on the goal. Generally your suppression request will end getting transferred the HOC (home ownership center) of jurisdiction for the home that had the defaulted loan on it.
I have helped quite a few people with this process.
Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.
Please feel free to contact me for more information or help.
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
Apply Online: https://secure.smartapp1003.com/102471/?loanofficerid=106115
When you need construction loans, bad credit can really limit your options. Loans of all kinds are becoming more difficult to obtain because the standards of lending are getting harder to meet. That doesn't necessarily mean you'll have to put your dreams on hold, but you will need to take a few steps before you apply for a construction loan.
Construction loans are products offered by banks and other lenders. A construction loan can be used to build your first home, build a second home while you still reside in your primary residence, or make additions or repairs to an existing home. Construction loans typically have short duration, and some are simply converted to mortgages once the construction has been completed.
As with any loan, your chances of being approved will increase if you can minimize the risk to the lender. But what if you already have a bad credit rating? Fortunately, there are plenty of ways to get the construction loan you need, regardless of your credit rating.
There are construction loan options for everyone. You just need to know where to look. If your bank or credit union can't help you, go online to compare rates on construction loans. Some lenders even specialize in high-risk loans. You will pay a higher interest rate than a prime borrower, but at least you'll get the financing you need to make your home construction a reality.
I have a great recommendation if your concerned about your credit report and score. Call 1-800-368-4193 make sure you ask for Alicia. Worked with her last year to help remove inaccurate items on my credit report. When I was first referred to her my score was 480, 432 & 466 after 1 month it went up 39 points and in about 5 months 109 points. She is very knowledgeable on ways to legally make both the credit bureaus and creditors do the right thing, and in doing so the items fell off my credit report its been 9 months now I'm at 755 750 and 720 with Experian, but I'm still a satisfied client all I did was follow her advice. Oh she also has portal access so I saw exactly what was being done with my credit and I was able to message her when I had questions from within the portal.... more
It looks like you are asking questions about a specific listing, but your question came through in a general forum with no property noted. Normally questions about current ownership can be answered by your agent researching the tax records of a property. The question about title and liens are covered by a title search conducted by the title company used in a closing transaction. The question of a mother in law suite could easily be answered by your real estate agent.... more
It will depend on what the right off are and what are a one time occurrence vs an ongoing issue extending over 3 years. I would be delighted to provide you with some mortgage options, (this does not require us pulling your credit) that will allow you to make the best decision for your family. I can be contacted via my profile information for a no obligation consultation. My Office hours are 08:00 AM-08:00 PM Mon-Fri and Fri and Sat 08:00 AM-06:00 PM CST.
Capital One Bank
7933 Preston Road
Plano TX 75024
Phone (469) 315-1709... more
We offer standard FHA & VA financing down to a 580 credit score without investor overlays, and close the average file well within 30 days. All processing and underwriting is done in office, communication is impeccable. Feel free to check out my Zillow profile below, and let me know if I can be of assistance:
NMLS# 151017... more
My lender works with buyers with fico scores 580 and up and usually can get the loan closed and funded within 21 days. After Oct. 3rd when the new CFPB laws take effect, closings will be an average of 45 days so now is definitely the time to act. Feel free to call or email for further details.
Century 21 Judge Fite Company
Another option is to go with private mortgage insurance which would automatically drop of when your home reaches 78%LTV based on the amortization schedule. Or just go with lender paid mortgage insurance which will slightly raise the rate you qualify for. Move before rates rise!... more