Would you think it would be possible if it’s “the last 7 or 8 or 9 years” instead of “the last 6 years”? Would you care to share why you think such a scenario is not possible?[/quote]
Because I deal with loans, lenders, guidelines, regulations & underwriters on a daily basis and don’t just make up scenarios based on what I think I know.
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I am tracking you. I think it’s you who wrote
“but I don’t see how it’s possible for anyone who had “a bankruptcy AND foreclosure” in the last 6 years to have bought another house since then AND have enough equity to do a cash out refi recently”
I don’t think the OP said anything about how long it’s been since the “4” filed for bk & was foreclosed for. You and you alone came up with the bk & foreclosure in the last 6 years scenario.
[quote=HLS]
It makes for creative writing and the possibility of developing a movie ‘based on a true story’ though….
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Nah…it makes for a lame strawman argument.
[quote=HLS]
Nobody was getting a new loan for a few years after a bankruptcy, foreclosure or short sale.
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That’s a pretty broad statement there. But I trust that that’s your experience so it must be true.
But what is a few years? 1, 2, 5,7, 20? It must be something more than two right?
Here’s an anecdote – I know of 1 person, who is a veteran, that went through a short sale in 2010. After 2+ years he jumped back into the housing market. After going through some form of “counseling” he got the (VA) loan approved. I I guess you’ve never heard about VA loans.
[quote=HLS]BUT to assume that this was widespread because of stories in the media and internet is silly.[/quote]
hmm..you might want to read the thread again. I don’t remember seeing anyone making a claim that this is something that is widespread. You are just making up stuff and arguing against them and try to attribute that to other posters.
