I have always shared real situations in my blogs. Many times folks share that they went online looking for answers to questions, answers to issues like they are facing or just attempting to learn about things mortgage related.
One communication today was from an attorney, indicating that she and her husband had received a preapproval from a bank. They did a deed in lieu of foreclosure in Aug. of 2011. They put a home on deposit and then were told they can’t get a mortgage at this time. They were then told they can’t get a new mortgage until Aug. 2014.
The truth is, both answers are wrong. The original mortgage was owned by Fannie Mae and was current throughout its history and at the time of the deed in lieu of foreclosure. All that means is that the folks can get a mortgage after Aug. of this year.
