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My husband and I filed for bankruptcy a few years ago. Unfortunately, the lawyer we hired for the process took his sweet time in the filing and our home was foreclosed upon in the process before the bankruptcy could be finished. Discharged nearly two years ago, the foreclosure is keeping us from purchasing a new home for our family more so than the bankruptcy. Our credit scores are in the upper 650's and credit history since has been established. What can we do to fix this problem?? :evil:
Banks are not taking too many chances these days with home foreclosures on the rise. A bankruptsy that was just discharged two years ago will probaly continue to throw red flags to lending agencies. It mat take building a good payment history for a few years before you can get another home loan.
Unforetunately it is next to impossible to have the foreclosure removed. This just takes time..usually at least seven years.
Lenders are not too keen on removing foreclosure from your report. If the damage has been done then it has been done and you will have to wait till the period gets over. In the mean time you can try and build your credit score bit by bit.
By the way jenbug91, didn't you ask for a loan modification before filing for bankruptcy? And weren't you asked to go into debt consolidation under the new bankruptcy laws?