Jump to content

want to obtain another mortgage


Recommended Posts

I recently sold my house and I moved into an apartment, left the responsibility to the other owner. Other owner could not pay. Ameriquest was going to foreclose and I sold the house one day before foreclosure after taking other owner to court. EX is showing foreclosure and EQ and TU is not, but showing late payments. is there any way to get another loan to purchase a house. Vantage score 605!

New in forum Help..

Link to comment
Share on other sites

Sometimes bureaus will put a house that is 120 days late into the M8 catagory (Foreclosure) If the house was only 90 days late then your lawyer should get EX to change the status.


Time heals all in the mortgage credit business. So, you can get a loan now, but the rate is beyond expensive. Once you are 12 months past the date it sold the rate goes down a bit. 24 months past rates are just high and 36 months you can get a good rate.


Keep - for the next 7 years - proof of the date that the home was purchased from you. The bureaus have been known to mis-report things( mistakes happen?) and you may want to have proof of the date. It is an important one.

Keep - until you purchase your next home and have had it for a year proof of rental payments. Copies of checks is best. It is IMHO worth the extra $3-6.00 extra per month if it costs you that to have image checks or get the actual checks back from the bank. Yes. There are forms that a lender can send to an apt complex or a property management company to get proof, but here is something that just now happened. To get a certain program the borrower had to have proof of payment for the past 24 months. They had lived in the current apt complex for 23 months. So-just contact the previous place and get a form filled out by them. WHOOPS. That place was sold last May and the new owners destroyed/lost/who knows what- the old records. So no records exist proving July 2004 payment. However-very organized borrower. Keeps copies of bank statements back to 2002. BUT. They are just statements and there is no way to show/prove that check number XXX was paid to ? The borrower had copies of the NCR/Duplicate checks (I should be so organized). but they are not proof. The lenders say "anyone can write anything in a receipt book.

SO PLEASE KEEP COPIES OF YOUR RENT CHECKS. If you have not in the past, start now and get a form from a lender (Or I will send you one) and get it filled out by the apt complex.


Link to comment
Share on other sites

This topic is now closed to further replies.

  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.