My wife foreclosed. I was removed from title in 2006. Can I get an FHA Loan

You say you were removed from the title (by a quit claim deed I'm guessing) but were you still on the mortgage? The only way you could have gotten off the mortgage loan was to do a refinance of the loan into her name and removing you as a borrower. If you were still on the mortgage when it foreclosed then you were foreclosed on just the same as your ex-wife and you will not be eligible for a mortgage loan for a 2-3 year period from the date the property transferred. If you were not on the mortgage and thus not foreclosed on then you should be fine provided you meet all of the financial requirements to get the new loan. A 650 middle score is definitely workable.

Lots of info missing.. And most here will be positive about your scenario, but let me tell you what's going to happen... if you're in a community property state, then FHA will require a credit report on your spouse.. They will see the foreclosure, and deny the loan. If you're not in a community property state, then FHA will not require a credit report from your spouse, however in both scenarios, the lender will ask where you lived for the last 2 years, and whether you rented or owned.. In your scenario, you cannot state you owned or rented.. You lived there but you didn't own the home since it was owned by your spouse.. And you didn't rent, otherwise you would have a lease agreement and canceled checks proving your lease payments for the last 12 months.. So the lender will require a letter of explanation.. If you explain the truth, which you should, then your loan will be denied.. Anyone who tells you they can get you done is lying.. Your scenario will not work.. The lender will see the intent.. And your intent was to let go of a home you were most likely underwater in, and now you're trying to purchase a new home.. more than likely your income scenario didn't change from a couple of months ago, and the lender will question why you couldn't pay those payments on a home you let go, only now to be able to afford a new home, so the lender will see through all of this and see that your trying to "work the system".. And your loan will be denied... As Bert once said.. The underwriters are the gate keeper to the vault.. If you want the money in the vault, you have to get past the gate keeper.. And these folks are trained and experienced in reading between the lines and finding the anomalies.. I know this isn't what you want to hear, but it's what you will experience, i promise... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

It depends. Just because you are not on title does not mean you are not liable under the note. If you came off of title because your wife refinanced the home into a loan in her name only, then it is likely you would qualify. If, however, the loan that resulted in the foreclosure is one in which you were a signer, it does not matter if you were on title or not, you will suffer the foreclosure penalty as well. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

First, were you ever on the mortgage ? you state that you are still married? where you removed from title from a divorce/ need more info linda email me at yourloanpartnerforlife@live.com 602 330 1598 IF you were ever on the mortgage, it will reflect on your credit report, so no, it will not work then I can send you to a private money lender... IF this is not the case, and you can qualify for a hom by yourself, and you are still married, with fha i have to include your wifes debts , she can not be on the mortgage..also, who accepted your home offer without being preapproved?? I have a excellent loan officer in california for you .

As other have said, your ability to qualify for a mortgage to puchase the home will depend first on whether you were still on the mortgage when the property was forclosed on. 2nd, the details of your credit profile and other debts. $120K yr income should be enought to qualify depending on what other debts you have and whether the score is actually 650ish. I can look at it for you: pdumouchel@primelending.com or 843.619.6025 or I can help find a lender closer to you from my company.

Not info information. Were you removed from the loan?

Yes, you are fine as long as you weren't on the mortgage with your wife. Credit score is good.

We do a lot of loans wherein a foreclosure had occurred for the owners. But in your case you make it soundas though you managed to get off the loan, before your credit went pretty bad (650 is certainly high enoughto get a mortgage loan.) Please do contact us for a good faith comparison. We are direct lenders and inthe top 10 of funders of FHA loans last year.

Need more info, were you on the mortgage?