Seasoning requirements on BK and Foreclosure: FHA: Chapter 7: 2 yrs Chapter 13: 2 yrs Foreclosure: 3 yrs Short Sale: 3 yrs (unless borr was not late prior to short sale and was not trying to take advantage of the market) VA: Chapter 7: 2 yrs Chapter 13: 2 yrs Foreclosure: 2yrs Short Sale: 2 yrs VA High Balance: Chapter 7: 7 yrs Chapter 13: 7 yrs Foreclosure: 7 yrs Short Sale: 7 yrs Conventional: Chapter 7: 4 yrs Chapter 13: 2 yrs from discharge date or 4 yrs from dismissal date Foreclosure: 7 yrs Deed in Lieu: 2 yrs if subject loan is 80% ltv or less 4 yrs if subject loan is 90% ltv or less 7 yrs if subject loan is over 90%ltv Short Sale: 2 yrs if subject loan is 80% ltv or less 4 yrs if subject loan is 90% ltv or less 7 yrs if subject loan is over 90% ltv
Posted on: Fri, 19 Jul 2013 19:45:06 +0000
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