i was approved for loan modification last year after my bank put my house in foreclosure after paying the new?

Deal Score0

monthly payment for 3 month i lost my job and wasn’t able to keep on my mortgage payment ,my bank put my house again in foreclosure ,can i still be able to make a deal with my bank ?
please help

Ok, I had my first meeting of creditors yesterday and on or around 6-1-10 my bkruptcy will be discharged. Before I get someone in here to start hating, it happen because my wife lost her job and my 4 yr old son has been sick, 1 surgery a lots of out of pocket medical and prescription expenses that I just could not afford or keep my budget intact.

Now for the background. I bought a home in December 2006 with a Veterans loan. Due to the job lose and medical bills I was forclosed on about 6 months ago and had my bkuptcy hearing yesterday.

How long will it be until I can apply for a second mortgage and actually be considered. I know I will have to pay down between 10% (HUD if they will finance me) and 20% for a conventional. But if I work on getting my credit straight, what is the length of time I need to wait to be approved. I would prefer a hud loan since the down payment is much less and they are a bit more forgiving about bkruptcys and foreclosures than a traditional lender. Any help on this matter is appreciated.
Ok, I’m not looking for a scam loan. I want legit advise about waiting periods and the ability to get a HUD loan after foreclosure on another government backed loan (VA loans). So please stop e-mailing me about “legit” opportunities because I think you’re full of crap.
KL, thank you for your post. Is it possible to get another FHA loan since my foreclosure was on a VA loan?

16 Comments
  1. Reply
    Kimberli Huggins
    February 23, 2011 at 11:55 pm

    Yes you will be able to make a deal. In fact I suggest you take a look at this. http://www.foreclosureworkoutguide.com. This guide is the answer to all of your questions. I hope you will take the time to look at it and I guarantee you will be satisfied.

  2. Reply
    Kevin Williams
    February 24, 2011 at 12:24 am

    Unfortunately the bank will not seriously consider your request to renegotiate the loan again because you defaulted on the defaulted agreement. I would notify the bank that you have lost your income and immediately try to determine if you are in a state which allows “deficient” judgments.

    Deficient states will allow a lender to hold you responsible if the property sells for less than the loan amount. In states that allow deficiency the lender will issue you a 1099 for any monies lost to a sale. This information is also reported to the IRS.

    To avoid the deficiency it is advised that a homeowner list the property for sale with a realtor and negotiate with the lender to forgive the deficiency and approve the short sale.

    To determine if you are in a deficient state you can contact this agency. They will provide you with the information at no cost. You can also locate this information by contacting a local non profit in your area.

    http://www.worldclassmemberservices.com/Blog.html

  3. Reply
    Tonny
    February 24, 2011 at 1:21 am

    A government approved and certified lending company.This company do offer loan ranging from personal to industrial loans to interested persons or companies who are seeking financial aid at a negotiable interest rates sometimes as low as 3%.Why should you die in silence when you have an opportunity to clear your dept,start or boost your business with a loan from our company.

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    • Reply
      george essex
      June 28, 2013 at 1:48 pm

      hi can someone help me to get a consolidation loan please

  4. Reply
    Margarita
    February 24, 2011 at 1:54 am

    Here there are good sites on business http://webfin2.notlong.com/0AAm8Ka

  5. Reply
    Ryan M
    February 24, 2011 at 2:24 am

    You will have to wait about 5 years after those are completed, unless you have put down a mammoth down payment…like over 30%

  6. Reply
    MONICA
    February 24, 2011 at 2:53 am

    i am a realestate broker 20 years most lenders want to see at least 2 years after discharge of the bankruptcy and no new collections, and 3 years from forclosure aain with no new debt. beware of people asking for your personal info on the internet, especialy when they are asking questions that are againts the fair housing laws, like gender, and marital status.

  7. Reply
    Alicia Williams
    February 24, 2011 at 3:44 am

    I am Mrs. Alicia Williams from California, God has bless me with two kids and a loving husband, I promise to share this Testimony because of God favor in my life, 2months ago I was in desperate need of money so I thought of having a loan then I ran into wrong hands who claimed to be a loan lender not knowing he was a scam. He collected 2,000USD from me and refuse to email me since. then I was confuse, but God came to my rescue, one faithful day I went to church after the service I share idea with a friend and she introduce me to SIVILLIS PRIVATE FINANCE, she said she was given 50,000USD by MR MICHEAL DORIAN, THE MANAGING DIRECTOR . so I collected his email Address ,he told me the roles and regulation and I followed, then after processing of the Documents, he gave me my loan of 70,000POUNDS .you can contact him on via email (savillis.financier@live.com) I am sure he will help you.

  8. Reply
    KL
    February 24, 2011 at 4:17 am

    FHA loans (backed by HUD) require 3.5% down and allow 3% seller concessions towards closing costs and pre-paids. Bankruptcy has to be discharged for 2 years and foreclosure has to be 3 years old. Re-established positive credit must be re-established. 620 middle credit score required.

    Just a heads up…FHA has lost a TON of money in foreclosures over the past couple of years and they are getting more and more strict. Keep up-to-date on their guidelines.

  9. Reply
    MONICA ROLAND
    February 24, 2011 at 4:47 am

    I am Monica Roland by name, I live in
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    • Reply
      dana
      January 28, 2013 at 8:16 am

      Were you required to pay any fees upfront. Please advise.

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    February 24, 2011 at 5:01 am

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    February 24, 2011 at 5:05 am

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