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When is a foreclosure final?

Martinez, CA |

I keep getting different answers from loan officers. I'm trying to buy a house. I foreclosed on a home in 2009. It went to auction and sold on 08/2009. Does that mean I can buy a house 08/211 using a VA loan?

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Attorney answers 2


A foreclosure by Trustee's Sale is "final" when the Trustee issues a Trustee's Deed After Sale. As far as when you can get a new mortagage loan after your foreclosure, that depends on the type of loan and the underwriting requirements existing at the time you apply and are approved for the loan. That type of question - loan programs and qualifications - is best asked of a loan agent. Different answers are not uncomon because the lending industry is always changing the rules and different lenders have different products and underwriting rules.

Richard A. Rodgers, Esq.
(805) 230-2525

As stated in the AVVO.COM Terms and Conditions of Use, this answer is not intended as legal advice, and no attorney-client relationship or privilige is created by this response.


In California, a non-judicial foreclosure is final when the Trustee's Deed Upon Sale is recorded in the County Recorder's office.

I assume you mean that you were the borrower foreclosed upon in August 2009, not that you foreclosed on a home in August 2009.

Was that loan a VA loan? If the foreclosure involved a VA loan, then not only must you as the borrower wait two years and repair credit before reapplying, but your entitlement is affected as well. In order for a VA borrower to have full entitlement restored after foreclosure, you must repay the loss suffered by the VA as a result of the prior foreclosure before being considered for another new VA mortgage.