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I tried to get a conventional loan and was turned down. My all around FICO is 687. I had a house, I was served with forclosure papers on April 1, 2009, the house closed on May 30, 2009, due to divorce. I was told last Friday by lender that he was 95 percent sure that my FHA loan would go through. I've already been put through automated underwriting, I submitted Divorce Judgment, paid for Insurance and submitted copies of checks from the sale of another home. Now I'm told my file is not the Cleanest??????
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I guess this is my last hope. I hope HUD approves
New development, the loan is now going directly to HUD for underwriting. to Lola, my home was not sold by the Bank I was served on April 1, 2009 I sold it on May 30, 2009, it was in foreclosure for exactly 2 months. I have had consistentent employment for the last 3 years.
FHA Requirements 3 yrs on Foreclosures, funny thing is... My house was in foreclosure for 2 months, I rec'd full asking on the property and all my creditors were paid in full, with money left over. Then I get a check from the LO about 3 months ago for wrongful foreclosure... can't understand this, would have been better with a bankruptcy, this sytem we have is really wrong.
It's rare to see an exceptionally clean file-but so what? Your score qualifies and it seems like your waiting period after foreclosure is seasoned. The situation you describe is by no means unusual-we close files like this ALL the time. For real. FHA-you should be A-OK.
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