va: 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)

 
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Jennifer Tabor Storre

FHA and VA Home Loans, 0 Down Financing, Jumbo Loans

Grand Rapids, MI

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