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Have You Had A

Short Sale, Bankruptcy, or a Foreclosure Before?

Here are the waiting periods before you are eligible for a new mortgage.

Check with me first as these change from time to time.

Bankruptcy - Chapter 7 /11

Conv. 4 yrs & FHA 2 yrs.


Bankruptcy - Chapter 13

Conv. 2 yrs from discharge date or 4 yrs from dismissal date (FHA 2 yrs from discharge)


Actual Foreclosure

Conv. 7 yrs if home was included in Chpt 7bk wait period is same as BK above. FHA 3 yrs.


Short Sale

Conv. 4 yrs / FHA 3 yrs or no wait if the loan was current at the time of short sale for the prev 12 mos.


VA short sale

2 yrs. - Deed in lieu (Same as short sales)


Mortgage Modification

Conv 2 yrs for Refi & FHA 1 year


Credit Counseling

Conv. 1 yr & FHA 6 months-both on-time payments.

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