Posted on: 08th Aug, 2011 02:15 pm
If an individual falls 4-5 months behind on their mortgage and catches up, how long do they have to wait before qualifying for a new mortgage?
Lenders will want 12 months of clean payments, but its at the underwriters discretion if they would lend at all. There would need to be some documentation on why you fell behind in the first place. Lenders dont want to think that you may not pay, like before...If you waited 2 years, you should be good...good luck