Zillow Advice: Approval Process - Looking for a new home loan, discharged two years from bankruptcy, made all payments on time. http://www.zillow.com/advice-thread/Looking-for-a-new-home-loan-discharged-two-years-from-bankruptcy-made-all-payments-on-time/491738/ Zillow Advice | Zillow Real Estate User629778 - Although most ... http://www.zillow.com/advice-thread/Looking-for-a-new-home-loan-discharged-two-years-from-bankruptcy-made-all-payments-on-time/491738/ User629778 - Although most traditional lenders might not be able to assist you, I have a lender that probably can. &nbsp;It would require a larger down payment. &nbsp;It may allow you to get into your new home now and you can finance in the future when your issue is resolved.&nbsp;<br/><br/>Email or call me if you would like to more information. &nbsp;It is a great program for those with a need.&nbsp;<br/><br/>Cassandra Mon, 02 Sep 2013 03:19:00 GMT http://www.zillow.com/advice-thread/Looking-for-a-new-home-loan-discharged-two-years-from-bankruptcy-made-all-payments-on-time/491738/ 2013-09-02T03:19:00Z Like other said, if the mortgage ... http://www.zillow.com/advice-thread/Looking-for-a-new-home-loan-discharged-two-years-from-bankruptcy-made-all-payments-on-time/491738/ Like other said, if the mortgage was taken off of your credit, then you might be good to go today. Still, too much grey area to say yes or no yet.&nbsp;<br/><br/>Still, I would contact the BK attorney. If the debt was canceled, could they still collect money from you for the past three years? You could have a case where they owe you that money back, seeing it was discharged.&nbsp;<br/><br/>I am just guessing, I could be making something up that is not true. But lawyers have make crazier things stick in the past. I am not a lawyer, just throwing an idea out there.<br/><br/>Don't discount the fact that the bank puts the slowest and least empowered people in the REO Dept. They could have been making mistakes for years without any calling them on it.&nbsp;<br/><br/>I had client like that. The loan was discharged, but the lender never changed title from the client to the bank. They sold it and right at the end, they noticed they did not own it and needed the client to sign the quit claim to the bank so they could complete the sale. So, my underwriter said the count down to get a new loan was not from the BK, but from the title change. That is when he counted the short sale.&nbsp; Fri, 30 Aug 2013 16:54:00 GMT http://www.zillow.com/advice-thread/Looking-for-a-new-home-loan-discharged-two-years-from-bankruptcy-made-all-payments-on-time/491738/ 2013-08-30T16:54:00Z In most cases we are able ... http://www.zillow.com/advice-thread/Looking-for-a-new-home-loan-discharged-two-years-from-bankruptcy-made-all-payments-on-time/491738/ In most cases we are able to go off the BK discharge date and not from the day your home was foreclosed and in this not even foreclosed yet. &nbsp;Just closed one last week here. &nbsp;Most lenders will require you to go off the foreclosure date once that process starts which puts you in limbo for who knows how long. &nbsp;Since we are able to help in situations like these typically we could help you purchase a new home if all other criteria to get a new loan is met, you would be looking at FHA financing. &nbsp;From what I understand since the home was in the BK and it wasn't reaffirmed you can't refinance it, it technically isn't yours even though it is still. &nbsp;I would contact your BK Attorney to see if anything can be done there on the payments made and re-affirmation never being done. Fri, 30 Aug 2013 16:33:00 GMT http://www.zillow.com/advice-thread/Looking-for-a-new-home-loan-discharged-two-years-from-bankruptcy-made-all-payments-on-time/491738/ 2013-08-30T16:33:00Z I see two issues 1) I am ... http://www.zillow.com/advice-thread/Looking-for-a-new-home-loan-discharged-two-years-from-bankruptcy-made-all-payments-on-time/491738/ <p>I see two issues 1) I am not sure the creditor can continue to take money on a debt that was wiped out. Check with your BK lawyer<br/><br/>2) The only way for you to get a loan now is to be able to qualify with your current mortgage payment and your new mortgage payment.<br/>The three year&nbsp;foreclosure waiting period&nbsp;starts when the creditor take possession of the home. So even if you had not paid the mortgage and they waited two years to take the home, Your waiting period from the time you filed BK would be five years.<br/>Have you tried a loan modification?&nbsp; I dont know the rules for a modication.</p> Fri, 30 Aug 2013 03:36:00 GMT http://www.zillow.com/advice-thread/Looking-for-a-new-home-loan-discharged-two-years-from-bankruptcy-made-all-payments-on-time/491738/ 2013-08-30T03:36:00Z The U.S. Department of Housing ... http://www.zillow.com/advice-thread/Looking-for-a-new-home-loan-discharged-two-years-from-bankruptcy-made-all-payments-on-time/491738/ <strong>The U.S. Department of Housing and Urban Development (HUD) recently announced</strong> the "<a href="http://portal.hud.gov/huddoc/13-26ml.pdf" rel="nofollow">Back to Work &ndash; Extenuating Circumstances</a>" program, aimed to help people who have lost their home through foreclosure, short sale or bankruptcy. HUD has reduced the previously required minimum of 36 months to 12 months before they may be able to finance another home, given that they meet HUD's minimum eligibility requirements. Thu, 29 Aug 2013 05:10:00 GMT http://www.zillow.com/advice-thread/Looking-for-a-new-home-loan-discharged-two-years-from-bankruptcy-made-all-payments-on-time/491738/ 2013-08-29T05:10:00Z Unfortunately you are in ... http://www.zillow.com/advice-thread/Looking-for-a-new-home-loan-discharged-two-years-from-bankruptcy-made-all-payments-on-time/491738/ Unfortunately you are in a position that will make refinancing impossible and purchasing a new home unlikely for the reasons described above. The rules on mortgages included in bankruptcy are tricky. Even thought you included the mortgage in the BK a lender is still required to count it "against" you. Essentially, a lender cannot make a new loan for you in good faith due to the risk that you may stop paying that one, even though you included it in the BK. It doesn't make a whole lot of sense, but those are the current guidelines. If you let that home go into foreclosure you will need to wait 3-4 years after the foreclosed property is both sold and the new deed is recorded. Sat, 18 May 2013 03:09:00 GMT http://www.zillow.com/advice-thread/Looking-for-a-new-home-loan-discharged-two-years-from-bankruptcy-made-all-payments-on-time/491738/ 2013-05-18T03:09:00Z