Quote Quoting adjusterjack
View Post
Oh, but you certainly were connected to those foreclosures. You OWNED the LLC that OWNED the properties. If that's not a "connection" I don't know what is.

Anyway, I'm looking at an FHA sample loan application and the question is:

"Have you had property foreclosed upon or given title or deed in lieu thereof in the last 7 years?"

http://fha-home-loans.com/forms/Loan%20Application.pdf

Looks to me that your answer to that question should be yes.

When you say lenders don't seem to be able to give you a straight answers are you talking to loan officers who make the decision or to mortgage brokers who have no clue as to what any given lender will do about the information?
I think that his argument is that he surrendered the properties in bankruptcy so neither he nor his LLC technically owned them at the time that they were foreclosed upon. Plus, the debt associated with them was discharged. The mortgage companies never put them in their names because they didn't want to pay the taxes or insure them. That happened a lot between 2008 and 2015.

Therefore he is getting a double whammy on his credit if he also has to take responsibility for the foreclosure.