Good Morning!
Fannie Mae has made changed on their Foreclosure waiting period.I'm going to list Fannie Mae's current waiting period on all derogatory events for youhere...
| Derogatory Event |
Current Waiting period |
| Bankruptcy – |
4 years |
| Chapter 7 or 11 |
|
|
|
| Bankruptcy – |
2 years from discharge date |
| Chapter 13 |
4 years from dismissal date |
|
|
| Multiple |
5 years if more than one filing within the |
| Bankruptcy |
past 7 years |
| Filings |
|
|
|
| Foreclosure |
7 years |
|
|
| Deed-in-Lieu of |
2 years – 80% maximum LTV ratios(1) |
| Foreclosure |
4 years – 90% maximum LTV ratios(1) |
| Preforeclosure |
7 years – LTV ratios per the Eligibility |
| Sale |
Matrix |
| Short Sale |
|
I hope you have a good day today, and a good week. Thanks for reading!
Brett
