Need Help Asap- sort of long -mortgage brokers in Ohio Comment?

In a nutshell this is where I am -13 mo out of discharge chap7 that was converted from a chapter 13 that I paid about 2.5 years on-I talked with a mortgage broker after my Bankruptcy to see where I needed to be-I killed my self to rebuild credit over the last year- credit score (626 middle) current with tri merge report from broker-(I litterly worked on something different every month since my discharge to try and get my scores up, advised by my broker) The kicker is I had 1 -120 day late in December of 05 on my first mortgage, (my mortgage co at the time would not take my payment until my discharge was complete)-(sent back all my checks) as soon as discharge was complete paid them up to date-December of 05-they reported me 120 days on my credit rep for December 05- I paid loan on time till April 06 then had opportunity to sell home- been renting to date- Found out my landlord has been taking my monthly payments $1500.00 and not making his mortgage payments (Mortgage Skimming i think is the term) (I just found out the sheriff sale is set in December 28) he hasn’t made insurance payments on home etc-Anyway really need a break and don’t want to have to find a new place to rent-I thought having a decent credit score would have done it- broker seems to think the year old- 120 will stop lenders in tracks and I don’t have much of a chance. I met with him this week and have all the paper work-he said he would keep checking but doesn’t think it is possible for-I really need a 100% 8/20 or 30 with pmi being pre approved with a max amount of 215k for this scenario-need no money down, I really had it planed out but things came down I wasn’t expecting while renting- I had a 1500 deposit, and last months rent (3000.00 Total-I wanted to use towards my purchase in January so I would have 14 months out of BR and 12 months of the 120day from the mortgage co. Granted not much $ but I was expecting to have it) If you read the above I lost my timing and 3000.00 to the dishonest landlord- Sherrifs Sale is 28 of December- Any chance a subprime would be able to do this? Would waiting till Jan 2 actually help? :cry:

First, just because the house is being sold, doesn't necessarily mean you will be evicted. Also, you will not be liable for any Mortgage, Insurance, or Property Tax as a renter.
Also, look at it this way, you can probably stop paying rent. (and make back that $3,000 in two months. If the landlord is crooked, then he is unlikely to start an eviction proceeding. So at the very least, you can save December's payment (unless you already made it), and January's. Plus, I bet you will be able to live in the house 'till at least February.

I tend to agree with your broker, it will be difficult for you to do a 100% LTV (loan to value) mortgage in your circumstances. It's not just the late payment, but you're also less than 2 years from discharge. Since your less than 2 years from discharge, you will be sub-prime no matter what.

Honestly, if I were you, I would live in the house, and not pay rent, until you are evicted and then go rent someplace else. Or perhaps work something out with the whoever buys the house at auction. Actually, you may be able to work something out with the bank that is holding the mortgage...who knows, they might let you buy the house your living in at foreclosure (for legal reasons, the house will have to go to foreclosure sale), and simply allow you to assume the existing mortgage.

I agree. Stay there and don't pay rent and get your money back!!

According to attorney, 3 days after sale they can serve eviction notice to be out within 10 days- I have a family and cant take the chance to see if new owner will lease or give us time, Also paid December, Landlord still owns the property and his lawer sent us a letter stating they would hold us to lease untill he no longer owned the property. Seems people who abuse the system know all the loop holes- I am going to try my best to get some kind of subprime over the next week and then start looking for a new rental- Bws