Profile picture for kdeemoh

Caivers is killing us

we bought a home in 2002, in 2004 we put title in someones name they was making the monthly payments on our home. in 2010 we filed bankruptcy house was on it, discharged in sept of 2010. the house was not sold until may of 2013 and banks are saying we can not get a loan for the house was not sold until this year, a mortgage broker said we can get a loan, we do not know who to trust, please help us.
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October 13 2013 - Akron
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Answers (4)

Profile picture for wetdawgs
If your name was on the mortgage until 2013, the sale in May 2013 is a line in the sand for federally insured loans.

As the HUD website says "CAIVRS is a Federal government database of delinquent debtors that allows federal agencies to reduce the risk to federal loan guarantee programs."

So, you may wish to investigate loans with no federal components.   You are likely to need a big down payment and may pay higher interest rates.

As a consumer and tax payer, I think that CAIVRS is a good thing for lowering risk to the tax payers.

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October 13 2013
Profile picture for kdeemoh
caivers (cavers) is a bad thing, and we filled bankruptcy in 2010 we should be free an clear, but the house was not sold threw the bank until now, that should be mortgage problem not us.
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October 13 2013
You can change the name on the title but that does not relieve you for the mortgage that you took out in your name.

Go see another loan officer, go see 2 or 3 and see if they agree.
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October 13 2013
Who is Caivers ?
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