fha: Good News For Home Buyers in Grand Rapids, Michigan.
- 04/20/10 05:31 AM
Going forward, borrowers who previously experienced a deed-in-lieu of foreclosure won't have to wait as long to get approved for a subsequent mortgage. Last week, mortgage financier Fannie Mae changed its required waiting period (the amount of time that must elapse after a pre-foreclosure event) to reflect current market conditions. In the past, borrowers had to wait four years after a deed-in-lieu of foreclosure to get approved for a mortgage with Fannie Mae. That time period has been slashed to just two years, though the maximum loan-to-value is limited to 80 percent. After four years, the maximum LTV climbs to 90 … (0 comments)
Related Links:
Jennifer Tabor Storre
FHA and VA Home Loans, 0 Down Financing, Jumbo Loans
Going forward, borrowers who previously experienced a deed-in-lieu of foreclosure won't have to wait as long to get approved for a subsequent mortgage.
;)
;)
;)
