Fannie Mae Guidelines After Bankruptcy And Foreclosure

Fannie Mae Guidelines After Bankruptcy And Foreclosure. Waiting period - FHA mortgage after Foreclosure, Bankruptcy or Short sale

Fannie Mae Guidelines After Bankruptcy And Foreclosure video duration 1 Minute(s) 41 Second(s), published by Gustan Cho Associates on 19 08 2019 - 20:27:14.

1
Fannie Mae Guidelines After Bankruptcy And Foreclosure * What Are The Fannie Mae Guidelines After Bankruptcy And Foreclosure * Fannie Mae Guidelines http://www.craigbosse.com What are the waiting periods to get a new FHA home loan after a Foreclosure, Short-Sale or Bankruptcy? Find out in this video.

http://www.craigbosse.com What are the waiting periods to get a new FHA home loan after a Foreclosure, Short-Sale or Bankruptcy? Find out in this video In this UREC Mortgage Monday Tip, Bryant Moore, Community Development Lender with BancorpSouth Mortgage, discusses how to rebuild credit after a http://www.craigbosse.com What are the waiting periods to get a new FHA home loan after a Foreclosure, Short-Sale or Bankruptcy? Find out in this video.

1. Fannie Mae Guidelines After Bankruptcy And Foreclosure

* What Are The Fannie Mae Guidelines After Bankruptcy And Foreclosure

* Fannie Mae Guidelines After Bankruptcy And Foreclosure require a mandatory waiting period for homebuyers seeking a conventional loan. There are two separate waiting period requirements depending on the type of Bankruptcy

- Fannie Mae and Freddie Mac are the two mortgage giants in the United States that set mortgage lending guidelines on Conventional Loans
- Conventional Loans are called conforming loans because they need to conform to the Fannie Mae And Freddie Mac Guidelines
- Every mortgage loan program has their own lending guidelines when it comes to qualifying for a home loan after bankruptcy and/or housing event
- HUD, the parent of FHA, is in charge of setting FHA Guidelines After Bankruptcy And Foreclosure
- Fannie Mae Guidelines After Bankruptcy And Foreclosure is created and implemented by Fannie Mae and Freddie Mac for Conventional Loans

Fannie Mae Guidelines After Bankruptcy And Foreclosure require the following waiting period after bankruptcy and foreclosure as well as a deed in lieu of foreclosure and short sale.

2. FHA Case Scenario On Mortgage Part Of Chapter 7 Bankruptcy

* However, let’s take the same case scenario with FHA:

- FHA has a three year waiting period after the recorded date of the foreclosure, in this case scenario, the three-year waiting period clock starts on January 10, 2018
- This borrower will not be qualified for an FHA loan until January 10, 2021, which is the three years waiting period from January 10, 2018 recorded date of the foreclosure
- The mortgage part of the Chapter 7 Bankruptcy has no effect on the waiting period requirements like it does for Conventional Loans

Home Buyers who have any questions on Fannie Mae Guidelines After Bankruptcy And Foreclosure and need to qualify with a national direct lender with no overlays, please do not hesitate to contact us at Gustan Cho Associates at 262-716-8151 or text us for faster response. Or email us at gcho@gustancho.com. Our licensed and support personnel are available 7 days a week, evenings, weekends, and holidays to take your calls and answer any questions.

***** Follow me *****

Read more https://gustancho.com/fannie-mae-guidelines-after-bankruptcy-and-foreclosure