Posted by Christian Penner on Tuesday, August 27, 2019 at 12:57 PMBy Christian Penner / August 27, 2019Comment
Did You Know – Waiting Periods
……Waiting Periods After a Bankruptcy, Foreclosure, or Short Sale
Have you ever asked?
How long does a borrower need to wait after a Foreclosure, Short Sale or Bankruptcy? Are the waiting periods the same for Conventional, FHA, VA and USDA? When do the waiting periods start?
The short answer is the mortgage waiting period depends on the loan type. The good news is, you may only need to wait as little as 2 years and with extenuating circumstances the wait periods could be shorter than the standard timeline.
Listed below is a quick reference table that outlines the agencies standard wait periods for Foreclosures, Short Sales/Deed in Lieu and Bankruptcies. We have also added this to the Surefire flyer library to use for your business development activities.