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How long after foreclosure, short sale, bankruptcy, or loan modification can you wait to become a homeowner?

Written by Clay S. on . Posted in Bankruptcy, FHA, Foreclosure, Loan Modification, Short Sale

Given the state of our economy one of the most common questions I’m asked is when a family that has gone through a short sale, or foreclosure or bankruptcy, would be eligible to purchase a home. The following gives you a general idea of what the requirements are. There are some exceptions when there are extenuating circumstances, including loss of job. There are new guidelines that might very well help in that circumstance if investors can be found to support the Fannie Mae and Freddie Mac policy changes.

Bankruptcy – Foreclosure – Short Sale – Loan Modification