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Bankruptcy and foreclosure

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Mewildman

Junior Member
What is the name of your state (only U.S. law)? Oregon.
Several years ago, my wife and I got into financial trouble after having to move and not being able to sell our home. Basically,my wife was laid off from her job and then i was transferred across the state. We could not afford to pay rent in our new city and continue to pay the mortgage on our house in our old city. We tried working with the Mortgage company (Well Fargo) to do a short sale, tried to do a Deed in Lieu, but they would not work with us in any way. We tried outright selling the property but were so upside down, that it was impossible at the time.

Anyway in Feb of 2014 we filed for Bankruptcy, we listed the home and said we wanted to surrender the property back to the bank. From that moment on Wells Fargo basically refused to to talk to us about the home and continued doing what they were doing. Our Bankruptcy was discharged in May of 2014, but we never heard a thing from Wells Fargo and found out later they had started foreclosure proceedings which they drug on for another 2 years. The property was finally foreclosed and sold at auction in July 2016.

We are now back on very stable financial footing and we want to again buy a home. We had a mortgage consultant go over our situation he said we would not qualify for an FHA loan because it has not been three years since the foreclosure. We make too much money to qualify for a USDA loan, and do not qualify for a VA loan. He said we are good to go as far as credit rating, income, and that the Bankruptcy should not stand in the way.

Anyone have any advice as to what to do other then waiting another year and half for the three years to go by?

Thanks
 
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Zigner

Senior Member, Non-Attorney
At the time that your attorney learned they were foreclosing on the property after you filed for bankruptcy, what did he say?
 

Mewildman

Junior Member
At the time that your attorney learned they were foreclosing on the property after you filed for bankruptcy, what did he say?
He never said anything about the foreclosure, in fact the foreclosure didn't actually start till after the Bankruptcy was discharged. We figured it was all taken care of and the Bank could just take over the property as we indicated in the Bankruptcy paperwork. We didn't hear anything from the bank for a long time after the Bankruptcy was discharged. Like I said the Foreclosure happened over two years later. We tried contacting the Bank, but they would not talk or give us any information at that point. also we were no longer clients of the attorney who represented us. Really sucks that they waited so long, We just want to get past all of this and move forward.
 

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