VA Mortgage w/BK and Foreclosure

[cocoasmom]

What time frame are you finding for taking out a VA mortgage after bankruptcy AND foreclosure? I've heard and read a lot of different things. Anyone had success in less than 3 years?

[rmcmorran]

Hello - I have heard 2 years. Our two years is quickly approaching - I will let you know when we close. We have been working with a lender so as soon as our date comes we can close.
Our bankrupcty was in June 2010, but our foreclosure was in 2008.

[LTN6571]

As to a VA loan with a BK "AND" foreclosure, I cannot speak of. But we were approved for our VA loan shortly after our 2 year BK discharge date while riding our other mortgage through.

[tobee43]

well, all i know is this. everyone says it's 2-3 years from your foreclosure date, if you had a foreclosure and you can't get a mortgage until AFTER that point in time. why??? i always will wonder and don't believe it for a moment. as who cares if your name is on another deed??? what difference does it REALLY make to the bank if you're FICO is 780 and you have been paying your bills perfectly for the past few years.

i know this, we were going to be able to co-sign for one of our kids and our house isn't even foreclosed on (although it's been over 4 years).

i think this is all yet to be seen as to really one can qualify, because frankly there are really very few loans clearing the banks VA or any other even for people with perfect credit. so, i think it's a wait and see and the banks since they have so much inventory will start lending SOMEDAY

[rmcmorran]

Have you tried a credit union? I have heard that may work??!!

[cocoasmom]

I checked with several lenders; national, local, including credit unions. We are coming up on two years from discharge but the house went out of our name five months later. For VA, I'm hearing it's two years from whatever is later, the foreclosure or the discharge.