bankruptcy: How Long Must You Wait to Buy a Home After Foreclosure or Bankruptcy?
- 03/16/16 05:11 AM
There's no question that a foreclosure or bankruptcy can advesrely affect your ability to buy a home, or completely eliminate the possibility. However, it is often more a question of when than if you can ever buy a home again. Different loan types or programs have different waiting periods. Generally speaking, government-insured loans, such as FHA and USDA Rural Developement have shorter waiting periods, e.g., 2-3 years. In fact, if you had a short sale and can qualify for a VA loan, there is actually no waiting period, with certain restrictions. For conforming/conventional loans (Fannie Mae and Freddie Mac), periods are longer. For (1 comments)