| Author |
Message |
|
|
eugeneriggs@aol.com
Guest
|
 Posted: Wed Nov 04, 2009 12:20 pm Post subject: waiting period to refinance after a chapter 7 for FHA |
|
|
I have been told 2 years and I was also told it changed to 3yrs this year.
Which is correct
_________________
Need help choosing the right loan? Get free consultation from community lenders/consultant |
|
|
 jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
|
| Posted: Wed Nov 04, 2009 11:19 pm Post subject: |
|
|
Hi eugeneriggs,
As far as I know, in case of Fannie Mae loans, you will have to wait for 2 years in order to refinance your mortgage after Chapter 7 bankruptcy.
Thanks |
|
|
raymond
Community Experts
Joined: 03 Jul 2009
Posts: 315
Location: Irvine, CA
60.39 Dollars($)
|
| Posted: Sun Nov 08, 2009 11:51 am Post subject: |
|
|
It's 4 years for Conforming, 2 years for FHA and VA, and you can't have any lates on anything for any reason during the waiting period.
_________________
Raymond
www.ReverseMortgageCalculator.org |
|
|
Greg Cook
Guest
|
| Posted: Wed Nov 11, 2009 12:47 pm Post subject: Waiting period |
|
|
For FHA loans it's two years AND the bankruptcy had to be for: "Circumstances beyond your control".
Make sure you save any paperwork that might be related to your decision to file for bankruptcy, i.e layoff notice, reduction in overtime notice etc.
You'll need these when you decide to jump back in the housing market.
Good Luck!
_________________
Need help choosing the right loan? Get free consultation from community lenders/consultant |
|
|
