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Conventional loan (3–7 years) – After a foreclosure, it can take you as long as seven years to get a conventional loan (one that mortgage market-makers like Fannie Mae or Freddie Mac will buy ...
Foreclosure waiting period. Conventional loan. 4 years for Chapter 7 or Chapter 11 (2 years with exceptions); 2 years from discharge or 4 years from dismissal of Chapter 13.
For starters, Fannie Mae or Freddie Mac must own your loan, which means it must be a conventional loan. If you have a government-backed loan like an FHA, VA or USDA loan, those programs have ...
Conforming conventional or jumbo conforming mortgage loans originated on or before January 1, 2008; At least three payments past due; The loan is secured by a one-unit property that is the borrower's primary residence; Current mark-to-market loan to value (LTV) of 90 percent or more; and
Getting a mortgage after foreclosure can be challenging because of the impact on your credit score and the fact that you’ll likely need to endure a waiting period before applying for a new loan ...
Among the major issuers of REMICs are the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal National Mortgage Association , the two leading secondary market buyers of conventional mortgage loans, as well as privately operated mortgage conduits owned by mortgage bankers, mortgage insurance companies, and savings institutions.
Loan modification programs. Conventional loan modification: If you have a conventional mortgage backed by Fannie Mae or Freddie Mac, you might be eligible for the Flex Modification program, which ...
Depending on whether you filed Chapter 7 or Chapter 13, it'll take two or four years to qualify for a conventional mortgage, one or two years for FHA or VA loans, and one or three years for USDA ...