Posted on: 04th Dec, 2009 05:32 pm
i discharged a ch 7 bk april '08 with a home included. i was told that getting a construction fha loan 2 years after the bk was possible but only if there was no deed in lieu of foreclosure listed. all i can say is that we were current until we filed and never even spoke with the lender of the home. but the lenders for the new loan think that if a home was included in the bk it is automatically listed as a deed in lieu of...regardless of if we signed it over directly to the lender.
this doesn't make sense to me, could you give any advice on the matter!!
thanks
this doesn't make sense to me, could you give any advice on the matter!!
thanks
Hi pamperedchefamy,
If you did not reaffirm the loan and stop making the payments, then the lender would have either foreclosed the property or sold it off at a deed in lieu of foreclosure auction. That's the reason why your new lender is thinking that the property was automatically listed for a deed in lieu. To know whether or not your property has been sold off, you'll have to contact your lender. You can also check out your credit report wherein it would be mentioned if your property was included in a deed in lieu sale.
Thanks
If you did not reaffirm the loan and stop making the payments, then the lender would have either foreclosed the property or sold it off at a deed in lieu of foreclosure auction. That's the reason why your new lender is thinking that the property was automatically listed for a deed in lieu. To know whether or not your property has been sold off, you'll have to contact your lender. You can also check out your credit report wherein it would be mentioned if your property was included in a deed in lieu sale.
Thanks
You will have to pull title to see what really happened as it is written there more specifically. Also, what papers did you get.