short sale: The consequences of bankruptcy, foreclosure, short sale-Look before you leap
- 08/30/10 06:58 AM
If you're a homeowner who's trying to decide whether to go through bankruptcy, foreclosure, or short sale, here are some food for thought: How long must you wait before obtaining mortgage financing after a bankruptcy, foreclosure, or short sale? Conventional Loan: Chapter 7 Bankruptcy 4 years from discharge. Chapter 13 Bankruptcy 2 years from discharge date or 4 years from dismissal date. Foreclosure 5 years from completion date. Deed-in-lieu of foreclosure 5 years from completion date. Short Sale 2 years from completion
Fannie Mae Bankruptcy (chapter 7 or 11) 4 years. Bankruptcy chapter 13 2 years from discharge … (2 comments)
If you're a homeowner who's trying to decide whether to go through bankruptcy, foreclosure, or short sale, here are some food for thought:
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