Forclosure Not On Credit Report

kriptik

LoanSafe Member
#1
Well after I rode the "come and get it" with my home for years, I got a forclosure notice at the beginning of 2016. I left the house the same month. Now in that time I've been rebuilding my credit and renting for a few years and I've decided it would be better to get under a mortgage again rather than renting. Here's the thing, My forclosure is not showing up on my credit report. What would be the best course of action to get that to correctly report? I know that it will come up when I apply and knock down my credit score (750). Advise?
 

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
#2
Hi Kriptik,
Thanks for explaining your situation and you came to the right place. I'm one of the very few masters of non-qualified mortgage products in the industry (at least from what I've seen in the industry). Did you by chance file bankruptcy at any point? If you did, that would be one of the only reasons why the foreclosure isn't reporting on your credit. We don't necessarily need the foreclosure to report on your credit to seek new financing. Also don't expect to get away with the new lender not finding out about the foreclosure. It will be found through a title search and any typical conventional or government financing won't be available.

If the foreclosure is less than 2 years old we have an option starting out at 15% down. At 2 years old we have one that starts at 10% down. These are much better programs than hard money loans with better terms (no pre-payment penalties or balloon payments...etc).

Feel free to reach out to me for more details: [email protected]
 

kriptik

LoanSafe Member
#3
Hi Kriptik,
Thanks for explaining your situation and you came to the right place. I'm one of the very few masters of non-qualified mortgage products in the industry (at least from what I've seen in the industry). Did you by chance file bankruptcy at any point? If you did, that would be one of the only reasons why the foreclosure isn't reporting on your credit. We don't necessarily need the foreclosure to report on your credit to seek new financing. Also don't expect to get away with the new lender not finding out about the foreclosure. It will be found through a title search and any typical conventional or government financing won't be available.

If the foreclosure is less than 2 years old we have an option starting out at 15% down. At 2 years old we have one that starts at 10% down. These are much better programs than hard money loans with better terms (no pre-payment penalties or balloon payments...etc).

Feel free to reach out to me for more details: [email protected]
Thank you Erik!

I did not file for bankruptcy at any point and don't plan on doing anything until the end of next year (Sept). I also plan on using my VA loan. So, when does the foreclosure waiting period begin? from when I missed the first payment or from the date I received the title change?

thanks for any info.
 

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
#4
Hi Kriptik,
It would be from the date the deed is transferred out of your name/title change.
 

kriptik

LoanSafe Member
#5
Hi Kriptik,
It would be from the date the deed is transferred out of your name/title change.
Thank you.

I need to make a timeline of the events that have happened and what I plan to do in the next year. I hit the 2 year mark in January and it falls into my VA plan.
 

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
#6
VA by far is the best loan program out there hands down. Thank you for your service to our country!

On a side note - when you're ready we have no lender fees on VA loans what so ever.