Mrs. H Thought Bankruptcy Took Care of Everything, When it Discharged…
January 26, 2012 in Success Stories
Mrs. H thought Bankruptcy Took Care of Everything When it Discharged…
The Heinz found themselves in a very tight financial position, no matter how hard they tried, they were not able to get caught up and bankruptcy was the only answer for them. Soon after that, divorce solved their other problem. Mrs. Heinz stayed in the home and continued to pay the mortgage payment. For years and years, and the bank accepted payment each month.
Mrs. Heinz worked very hard trying to repair her credit,
no late charges,
no over spending.
At one point she even tried to sell the home, but there were no Buyers.
Mrs. H. checked her free online credit report and found no record of her on time mortgage payments for the previous 7 years. The bank told her that although the bankruptcy meant she was no longer responsible for the debt, they appreciated her timely payments. It would not report on her credit report either the balance owed or her payment history.
Mrs. Heinz receives my newsletter every month and called me to help her find either a home to buy or one to rent. She was tired of paying and not getting credit for the great job she was doing. I referred her to Roger Maxwell of Guaranteed Rate Mortgage Lending for credit approval and he informed both of us that Underwriter’s don’t necessarily look at the date of discharge, they look at the date the property changed hands. In this case, that hadn’t happened.
So I listed the home at current market pricing, we received an offer, started looking at homes available and wrote the offer on the home she wanted to live in. We soon closed on the home that was included in the bankruptcy and three weeks later Mrs.Heinz closed on her new home.
If you or someone you know has been through bankruptcy, whether they continue to live in the home and pay the mortgage payment or not, and they would like to purchase a new home, please give me their name and phone number and I will call them. I promise to take excellent care of them!
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