FHA Mortgage after Chapter 7

[qwerty64]

Anyone have firsthand experience with qualifying for FHA Mortgage after Chapter 7? I'm getting conflicting information.

FHA web site says you can qualify after 2 years but this extends to 3 years if a home was surrendered as part of the filing (3 years must pass from the date of foreclosure or short sale).

Here's my problem. The home never foreclosed. My ex still lives there and has been trying to work out a permanent loan modification.

So I'm 3 years removed from my discharge, have a steady job (23 years), and have reestablished a history of paying my bills on time. But, since the home never foreclosed, mortgage brokers tell me I don't qualify.

[justbroke]

Reads like you need manual underwriting. What you quote with the years after discharge versus foreclosure versus surrender are accurate. However, you still seem to have an issue with current ownership. That will be your big hurdle right now.

How is this spelled out in your dissolution of marriage? Was the ex-spouse supposed to re-title or otherwise refinance and get it out of your name? You'll probably have issues with still having an ownership interest, and hence financial responsibility, in the other property.

[tobee43]

jb....what happens in a case if one surrenders the house, but it's never is foreclosed on???? would or could not trump the other?

especially, if a house is surrendered.... it is then usually, at someone point????? forclosed on...but what happens if it's not...is there a statue of limitations???

[justbroke]

There is no legal requirement and there is no precedence where you can force a lender to foreclose upon a property. It's their right; not a legal requirement. There have been reverse foreclosures, but those have been between an HOA and a lender. Much different case there.

If the property isn't foreclosed upon, then it's just not foreclosed upon. You are basically in limbo.