bankruptcy: Fannie Mae's Latest Guidance for Foreclosures, Bankruptcies, & Short Sales
- 09/25/10 05:54 AM
Fannie Mae has updated its polices regarding new financing for borrowers with a previous bankruptcy, foreclosure, or short sale. The waiting period ranges from 2 years from the discharge date of a Chapter 13 Bankruptcy to 7 years from the date of a Foreclosure.
All borrowers will now be required to meet the minimum waiting period after the derogatory event in order to be eligible for a new conventional mortgage loan backed by Fannie Mae.
Fannie Mae has updated its polices regarding new financing for borrowers with a previous bankruptcy. The waiting period now ranges from 2 years from the discharge date of a Chapter 13 Bankruptcy to 5 years from the discharge or dismissal date for someone with multiple bankruptcy filings.
Fannie Mae has updated its polices regarding new financing for borrowers with a previous bankruptcy, foreclosure, or short sale. The waiting period ranges from 2 years from the discharge date of a Chapter 13 Bankruptcy to 7 years from the date of a Foreclosure. 
;)
;)
;)
