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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Redemption of creditworthiness Posted by Ward-CA- on June 12, 2003 at 10:28 AM In Reply to: life after foreclosure posted by jl on June 11, 2003 at 10:14 PM : i am trying to apply for a home loan after a foreclosure. they were saying to wait at least three years to purchase another home. i was wondering when does the three year start ticking is it the time your foreclosure proceeding starts or the time that you actually lost your home? thanks.... =•=•=•=•=•=•=•=•=•=•= The point of requiring a 2 year redemption period of a reformed debtor is to make her demonstrate over a reasonable time period (2 years) that they have truly changed their loan payment habits. So the reformation period would only begin once the debtor is finally back on track and making timely payments on her accounts. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : i am trying to apply for a home loan after a foreclosure. they were saying to wait at least three years to purchase another home. i was wondering when does the three year start ticking is it the time your foreclosure proceeding starts or the time that you actually lost your home? thanks.... : =•=•=•=•=•=•=•=•=•=•= : The point of requiring a 2 year redemption period of a reformed debtor is to make her demonstrate over a reasonable time period (2 years) that they have truly changed their loan payment habits. : So the reformation period would only begin once the debtor is finally back on track and making timely payments on her accounts. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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