homeowner: Recovering From Foreclosure
- 08/20/08 12:25 PM
The post-foreclosure requirements have recently changed to qualify for a new mortgage. However, there is life after a foreclosure! FHA loans only require 3 years to have passed unless an exception is granted based on extreme circumstances which vary on a case by case basis. Fannie Mae/Freddie Mac now requires 5 years to have passed with restrictions up to 7 years. Here is what you can do to be in the best shape to buy another home after a foreclosure. •· The biggest problem I see is that creditors do not report the data correctly to the credit bureaus. Very often, a (0 comments)