How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask ScottyMacESQ Your Own Question

ScottyMacESQ
ScottyMacESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 12118
Experience:  General Practice Attorney
19487448
Type Your Bankruptcy Law Question Here...
ScottyMacESQ is online now
A new question is answered every 9 seconds

Two years ago I filed bankruptcy and included in that bankruptcy

Resolved Question:

Two years ago I filed bankruptcy and included in that bankruptcy was my current home. After the bankruptcy was discharged I now would like to buy a house. I have maintained my payments on my mortgage, although I was not obligated to. Now, I am getting conflicting stories that I can and can't get a home mortgage because I have not gone through a foreclosure process? I am being told that I need to foreclose on my house in order to move forward because once I foreclose the 3-year time frame mortgage holders use after a foreclosure has not run. Is there any way to back-date the foreclosure to my bankruptcy date? Do I have to foreclose? Can't I just walk away after the purchase of another home? I'm lost.
Submitted: 3 years ago.
Category: Bankruptcy Law
Expert:  ScottyMacESQ replied 3 years ago.

ScottyMacESQ :

Hope that clears things up a bit. If you have any other questions, please let me know. If not, and you have not yet, please select the "accept" button. If you have already clicked "accept", or if you will in the future, please let me know so I can track these for my own reports and customer satisfaction stats. Thank you, XXXXX XXXXX good luck to you!

ScottyMacESQ :

Sorry, wrong window...

ScottyMacESQ :

Thank you for using JustAnswer. I am researching your issue and will respond shortly.

ScottyMacESQ :

When was bankruptcy discharged?

Customer: replied 3 years ago.
June 2009 the bankruptcy was discharged. I continued to pay the house payment on the advice of my attorney that continuing payment would possibly help me qualify for another home mortgage in the future, so I continued to pay for over the past 2 years. Now I am being told that I have to foreclose to even start the 2-3-5 year waiting period for another mortgage.
Expert:  ScottyMacESQ replied 3 years ago.
FHA regulations are pretty vague, and brokers can have a variety of opinions of them (a lot like lawyers). That being said, you don't have to have the home foreclosed. But if you go through the foreclosure process, it's three years from the date of the trustee's sale. That is, there is a specific date that the foreclosure happens on, for FHA purposes, and that's the date of the trustee's sale. The three years starts running at that point. And it can't be backdated. Now this can be reduced if there are "extenuating circumstances", such as a good credit rating, etc... But you'd have to wait 3 years from the actual sale date to do so. Best bet would be to either (a) sell you home, not foreclosure, or (b) walk away after you buy a new one.

Hope that clears things up a bit. If you have any other questions, please let me know. If not, and you have not yet, please select the "accept" button. If you have already clicked "accept", or if you will in the future, please let me know so I can track these for my own reports and customer satisfaction stats. Thank you, XXXXX XXXXX good luck to you!
Customer: replied 3 years ago.
Is it legal to purchase another home while knowing that you are going to walk away from a house that is under water? No foreclosure has happened because I am current on my payments and have waited the 2 years from the BK. I have contemplated walking away from the house after the purchase of another, but felt like that was being a bit dishonest in the long run. So, again, is this legal to do?
Expert:  ScottyMacESQ replied 3 years ago.
It's legal (you should try to sell it in the meantime). Whether it's ethical or not, that's another matter, and up to your conscience. You should certainly attempt to sell, so this won't even be an issue. But it is legal.
ScottyMacESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 12118
Experience: General Practice Attorney
ScottyMacESQ and other Bankruptcy Law Specialists are ready to help you

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
 
 
 

Meet The Experts:

 
 
 
  • FiveStarLaw

    Attorney

    Satisfied Customers:

    3203
    Bankruptcy Lawyer. Experienced.
< Last | Next >
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    3203
    Bankruptcy Lawyer. Experienced.
  • http://ww2.justanswer.com/uploads/TL/tleeders/2012-6-13_204815_TSL1.64x64.jpg Terry L.'s Avatar

    Terry L.

    Attorney

    Satisfied Customers:

    2204
    Better Business Bur 15yrs bankruptcy experience. Chicago Bar
  • http://ww2.justanswer.com/uploads/mnphillips2/2009-03-13_203105_10984459-249293407.jpeg Phillips Esq.'s Avatar

    Phillips Esq.

    Attorney-at-Law

    Satisfied Customers:

    950
    B.A.; M.B.A.; J.D.
  • http://ww2.justanswer.com/uploads/CO/cortrightlaw/2011-12-5_4117_Kevin.64x64.JPG cortrightlaw's Avatar

    cortrightlaw

    Attorney

    Satisfied Customers:

    490
    Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
  • http://ww2.justanswer.com/uploads/Jay1968/2006-12-03_004423_JoeRossPhoto.jpg JoeLawyer's Avatar

    JoeLawyer

    Attorney

    Satisfied Customers:

    376
    Attorney in the practice of Bankruptcy Law since 1996
  • http://ww2.justanswer.com/uploads/DY/Dylatess/2012-9-11_1968_BHBTemplePhoto.64x64.jpg dylatess's Avatar

    dylatess

    Attorney

    Satisfied Customers:

    370
    35 plus years of experience specializing in bankruptcy law
  • http://ww2.justanswer.com/uploads/US/USLawAnswers/2012-9-20_23143_20090105211638Headshot3b.64x64.jpg Brent Blanchard's Avatar

    Brent Blanchard

    Bankruptcy Attorney

    Satisfied Customers:

    315
    Twelve years experience in all aspects of debtor & creditor BK.
 
 
 
Chat Now With A Bankruptcy Lawyer
ScottyMacESQ
ScottyMacESQ
Bankruptcy Lawyer
12118 Satisfied Customers
General Practice Attorney