VA Mortgage after BK AND Foreclosure

[nodebtnomore]

Our conventional IO mortgage (non-VA) was IIB. Dicharged Ch 7 July 2010. Mortgage IIB is currently in foreclosure. Should foreclose in the next 2 months.

Since the current house was IIB is it 2 yrs after BK discharge or 2 yrs after foreclosure even if it was IIB?

If we are no longer responsible for the IIB mortgage its not our fault the bank is taking so long to foreclose.

I cannot get a straight answer anywhere!

[HHM]

It is still the foreclosure, and it is 3 years from foreclosure (or, at least 3 years for FHA, don't remember VA).

The foreclosure is still an event and still happens. When you try to get a new mortgage, and if you don't disclose the foreclosure, underwriting still finds it by researching the disposition of your prior residence and mortgage (even though the foreclosure is not on your credit report).

I hope that is a direct enough answer for you

[jmanford]

How does underwriting find it? Are you certain of this? On what record would the foreclosure show up?

[HHM]

I would have to ask my mortgage broker friends as to the "specifics", but they all tell me the same thing, the foreclosure comes up. (All foreclosures are public records and typically recorded at the county recorder office in some manner).