Fannie Mae released the following policy changes effective August 1st:
Chapter 7: 4 years from the date of discharge or dismissal
Chapter 13: 2 years from the date of discharge or 4 years from dismissal date
Foreclosure: 5 years from the date of completion (sale date). In addition, for up to 7 years after sale date, a minimum up 10% down and a minimum FICO of 680 required to purchase a principal residence. Purchase of a second home or investor property is not allowed.