Confused on the house we filed CH7 on.

[tobee43]

Tobee, keep in mind that most 'loan originators' just get loans for purchases and/or refinances and don't see much else. If they've never seen a land contract it doesn't mean they don't know what they're doing, it just means they've never seen it. Same with a BK. If a loan originator has never worked with or has limited experience with clients who ave a BK they won't know much about it and you're probably better off finding someone else who has the kind of experience you need.
I'm sure you've traveled on airplanes. A Southwest Pilot flies a 737 and does so very well but put him in an Airbus 320 or a 747 and it's a different story. Until he has proper training and experience flying those other airplanes you wouldn't want your family flying with him but in a 737 you're perfectly safe.

When I went shopping for a home loan one of the first questions I asked was if you've worked with people with recent BK's.

Logan

so true logan. unfortunately, when we were attempting a few months ago to get our daughter a mortgage not a one of the loan originators had a clue about a land contract. then we finally had one that did, or so we thought. she got her mortgage ( she never had a bk and has a credit score over 800) and she was approved, did the inspection, got the moving trucks, packed up everything and 4 days before the closing the loan originator called her and said sorry, we changed our minds since you have a land contact on your house so you still own it. even though it's clear it is a contract of sale. but this was a situation with a person who was seeking a mortgage and holding a land contract.

i do believe many of these people are young and inexperienced and i spoke with at least 5 and then had no clue. doesn't mean that none of them know about them, but first it was viewed as an asset and 4 days before closing it was viewed as a liability. that is a sure sign to me, at least they have NO clue on what they are doing. come one, 4 days before the closing??? and, this came from someone that claimed they new all about land contracts... crazy stuff.

i'm not implying that just because they don't know what a land contract is that they don't know how to process a loan application. most do, or least that has been my experience. i just think with all these twists and turns, many of them simply don't have the experience, hopefully, most likely soon will.

i very much agree, one must shop around