Mortgage Expert Blog

2016 Time Period Too Buy Again After A Bankruptcy, Short Sale, Foreclosure

2016 USDA Guidelines •Bankruptcy – You may apply for a USDA rural loan THREE (3) years after the discharge of a Chapter 7 or 13 Bankruptcy •Foreclosure – You may apply for a USDA rural loan THREE (3) years after a Foreclosure •Short Sale / Deed in Lieu of Foreclosure – If you had big issues the deed in lieu of foreclosure will be viewed as a foreclosure and you would want to wait no less than 3 years if the score is under 640. Over 640 your UW will make the call but typically not less than one year. (Date of Credit Approval must be after the above waiting p...

April 5th, 2016 | USDA, Bankruptcy, Short Sale, Foreclosure, credit score, 2016 Time Period Too Buy Again After A Bankruptcy, Short Sale, Foreclosure

2016 Time Period Too Buy Again After A Bankruptcy, short-sale or Foreclosure

2016 Conventional (Fannie Mae) Guidelines•Bankruptcy – You may apply for a Conventional, Fannie Mae loan after your Chapter 7 bankruptcy has been discharged for FOUR (4) years, TWO (2) years from the discharge of a Chapter 13•Foreclosure – You may apply for a Conventional, Fannie Mae loan SEVEN (7) years after the sale date of your foreclosure. Additional qualifying requirements may apply,•Short Sale / Deed in Lieu of Foreclosure – •UPDATED – Effective 7/29/2014: Waiting period for subsequent foreclosure that was included in Bankruptcy is waived. If ...

March 29th, 2016 | loan, Bankruptcy, FHA, Foreclosure, Short Sale, Fannie Mae, Conventional, 2016 Time Period Too Buy Again After A Bankruptcy, short-sale or Foreclosure

2016 Time Period Too Buy Again After A Bankruptcy, Short Sale, Foreclosure.

2016 FHA GuidelinesThinking of purchasing or refinancing a home in Edina? Here are some guidelines explaining the time period from after a bankruptcy, short-sale or Foreclosure.•Bankruptcy – You may apply for a FHA insured loan after your bankruptcy has been discharged for TWO (2) years with a Chapter 7 Bankruptcy. You may apply for a FHA insured loan after your bankruptcy has been discharged for ONE (1) year with a Chapter 13 Bankruptcy •Foreclosure – You may apply for a FHA insured loan THREE (3) years after the sale/deed transfer date. •Short Sale / Deed in Lieu...

March 28th, 2016 | Edina, Foreclosure, Bankruptcy, FHA, Short Sale, 2016, 2016 Time Period Too Buy Again After A Bankruptcy, Short Sale, Foreclosure.