Back in May of 2008 I converted my Chapter 13 BK to a chapter 7 (discharged in October 2008) at that time I surrendered my home. I moved out in June assuming the bank would just take possession of the home. Well to make a long story short they finally finished foreclosure proceedings and took my name off the property on March of 2010.
I had been living in a townhouse since 2008, and the owner had been setting aside 600.00 a month towards a down payment, but here I was three plus years later and unable to get anyone to even consider giving me a mortgage. My wife spent all of 2011 fighting stage three breast cancer and she was very concerned that the owner of the town home would tire of our inability to find a mortgage I continued to search and spent a lot of time reading on these very forums. It was here I started to learn about USDA mortgages. With this new information I once again began my search for someone who would take the time to help me. I knew the townhouse was not in a rural
area, but I also knew I could not expect the owner to wait any longer for me to get a loan.
I finally found a lender who would consider me for a USDA mortgage. This was someone who was willing to take the time to understand instead of just giving me the standard 3 years from the time your name is removed from the property!! On 12/04/11 my wife and myself found our dream home.
We closed on 02/16/2012 after working very hard to provide everything the underwriter needed and going through the very long waiting period to get USDA approval. But here I am sitting in my new home typing this!!
I talked to many different lenders and brokers who all told me I had to wait three years after my name came off my previous home. But I finally found a broker who took the time to find a lender that would work off the bankruptcy date, and look at my current credit situation.
I wrote this originally not to spam but to let everyone know that their are opportunities out there if you wish to own a home again!! You just have to keep looking until you find the right person!!
And on top of this as of January 2012 my wife is cancer free!!
Thank you for listening!!
I had been living in a townhouse since 2008, and the owner had been setting aside 600.00 a month towards a down payment, but here I was three plus years later and unable to get anyone to even consider giving me a mortgage. My wife spent all of 2011 fighting stage three breast cancer and she was very concerned that the owner of the town home would tire of our inability to find a mortgage I continued to search and spent a lot of time reading on these very forums. It was here I started to learn about USDA mortgages. With this new information I once again began my search for someone who would take the time to help me. I knew the townhouse was not in a rural
area, but I also knew I could not expect the owner to wait any longer for me to get a loan.
I finally found a lender who would consider me for a USDA mortgage. This was someone who was willing to take the time to understand instead of just giving me the standard 3 years from the time your name is removed from the property!! On 12/04/11 my wife and myself found our dream home.
We closed on 02/16/2012 after working very hard to provide everything the underwriter needed and going through the very long waiting period to get USDA approval. But here I am sitting in my new home typing this!!
I talked to many different lenders and brokers who all told me I had to wait three years after my name came off my previous home. But I finally found a broker who took the time to find a lender that would work off the bankruptcy date, and look at my current credit situation.
I wrote this originally not to spam but to let everyone know that their are opportunities out there if you wish to own a home again!! You just have to keep looking until you find the right person!!
And on top of this as of January 2012 my wife is cancer free!!
Thank you for listening!!
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