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aimlay · Joined: 17 Aug 2011 Posts: 1 1.38 Dollars($)

I am having a hard time buying a new home due to the "Deed tranfer date"? of my old mortgage.
I filed chapter 7 BK 3 years ago and gave up my home due to the fact that the mortgage company would not re-affirm the loan. I tried to buy a new home and was stopped because the motgage company did not take "ownership" of the home until 06-2011. Now I am being told I have to wait ANOTHER 3 years from 06-2011 to be able to buy a home or fight to get the tranfer date changed to reflect the BK date...
Can anyone help me understand this? What can I do? How do i get the date changed ??

chrisgummerson · Posted: Wed Aug 17, 2011 9:43 am Post subject:

It comes down to when the deed was recorded and transferred into the banks name. If that was the date, then you would have to wait. The lenders are very strict on previous foreclosures, and the like.

Guest

So there is nothing I can do? How can I be penalized for them not taking ownership of the home for 3 years?

Posted: Wed Aug 17, 2011 12:23 pm Post subject:

The timeline may help explain for you, if you filed the BK7 it takes several months to complete. Then there is the period of re-affimation. Then the property probably sat in the BK dept. at the bank, then to foreclosure or collections, and so on. Its so hard to tell what happens without knowing all the facts. I would start by working with a local title company to pull the records of your property. Then you know what has been recorded and when. Then I would talk to your BK attorney about the specifics and what he says is common practice regarding this. Once you know where you stand, you would be able to challenge the recording and try to make a change. I hope this helps. What state are you in?

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