Selling Home After Bk/hamp--awaiting Answer On New Loan!

sony1

LoanSafe Member
May 19, 2011
15
2
3
BK 7 years ago due to medical illness. Chose to stay & pay. Modified loan through B of A 5 years ago-approved for Obama HAMP. No lates. No payments on second mortgage since BK. SOLD underwater home recently due to rising prices-sold at listing price-enough to pay off both mortgages in full & keep hefty profit.

Applied for new loan after being told that 2nd would be considered derogatory debt, loan mod considered a foreclosure....by a few lenders. One pulled credit & said I think I can help you. SCORES 690.

AWAITING decision on new FHA loan-5% down. New home appraised $35,000 over sales price last week, instant equity. One week to close-BOTH homes!!

I am holding my breath & PRAYING!

Hoping to give others HOPE. I will post outcome.

God bless.
 
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Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
Aug 10, 2007
26,850
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That is a great news sony! Thanks for sharing your story and experience. It will give hope to others like you.

Our LoanSafe mortgage expert, Erik Sandstrom specializes in mortgages after foreclosure as well. If you have any question and or need another lender for back up. I suggest you call him at 619-379-8999.

Best of luck and please let us know how this all turns out for you.
 

sony1

LoanSafe Member
May 19, 2011
15
2
3
The Loan Officer just asked for our HO binder & we went to provide all info. to our new agent in order for it to be faxed today. Hoping this is a good sign. 6 days to close both loans.
 
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Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
Aug 10, 2007
26,850
466
1,000
49
Southern California
www.loansafe.org
Yes, that is a GREAT sign. You are getting real close :)