Foreclosure Waiting Periods Have Changed

By
Mortgage and Lending with University Lending Group NMLS# 133950

How many of us have known the heartbreak of foreclosure or know someone who has? We probably even know people that have known the dual heartbreak of foreclosure and bankruptcy. In these recent tough economic times, a lot of people have suffered from loss of income which forced them into those situations. 

Do you think forclosure or bankruptcy is keeping you from buying a home?

Watch this video to hear the good news!

This is great news from Fannie Mae. They have changed the rules so that if your foreclosure was a part of your bankruptcy, now, you are eligible for conventional financing in just 4 years instead of 7.

So if you or someone you know has had to go through the difficult times of bankruptcy and/or foreclosure, and want to finance a home give me a call at 734-238-3MTG (684)

Posted by

Peggy Wilson

License #13950

734.238.3MTG (684)

peggy@peggyloans.com

Comments (2)

Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Peggy:  That is good news rolling back from 7 to 4 years on the foreclosure ding. I am sure there will be many buyers acting on this new information. Thanks!

Oct 31, 2014 03:36 AM
Peggy Wilson
University Lending Group - Ann Arbor Township, MI
Michigan Mortgage Pro

Thanks, Norm! It sure is great news!

Oct 31, 2014 04:10 AM