Real estate blog entries tagged with foreclosure by Laura Forman, Your Brevard Premier Property Specialist (RE/MAX AEROSPACE REALTY www.LauraSellsBrevard.com)

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foreclosure: Rules Change for Financing After Short-Sale or Foreclosure - 08/11/14 12:54 AM

Rules Change for Financing After Short-Sale or Foreclosure
Change to Fannie Mae Rules For Financing After a Short Sale (8/16)
Effective with loan applications dated August 16, 2014 there is an important change to how Fannie Mae determines eligibility for home financing after the borrower has had a short sale.
Currently if the borrower had a short sale over 2 years ago AND has 20% down payment then the borrower is eligible for a new Conventional loan without having to document an extenuating circumstance. The new rule is more restrictive and no longer allows borrower’s to obtain financing after 2 years unless an … (1 comments)

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