|
Are you READY to buy Home again After Foreclosure!
Have you lost your home to foreclosure in Arizona? Well, I've been working with peolpe that have lost their home in Arizona to Foreclosure and finding that the lenders are not reporting correctly on their credit. You as the consumer need to make sure the lender reported correctly. Here is example of that we have seen - Had a client that lost their home in 2007 to Foreclosure in Arizona, The same lender had a first and second mortgage on the property. The lender reported correctly on the first mortgage showing it was foreclosed in 2007. The same lender continued to report a 120 day late on the second mortgage for next four years. The client called the lender to have them correct the error, The lender stated they had the right to continue to report and collect the loan(They had no right). We were able to help the client write a letter to the lender, once the lender received the letter they removed all the late payments and correctly showed on their credit with a 2007 foreclosure in Arizona on the second mortgage. So the first thing you need to do is check your credit by a Mortgage Professional, If you lost your home to Foreclosure in Arizona I can review and make sure it is reported correctly.
Next big question? How long do you have to wait after you lost your home to Foreclosure in Arizona. You will have to wait 3 years from the date they foreclosed on your property. Again we have found lenders that report late payments until October 2009. After some research for the client we found that the property was Foreclosed in May 2009. Just looking at the credit report the client would have to wait until November 2012 to buy again. I was able to found the correct document and now the client can buy a home in June 2012. If you lost your home to foreclosure in Arizona. Please call me 602-692-9933 or fill out Application.
|
