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You can buy a house again after Foreclosure, Bankruptcy or Short Sale. It just takes time. Below are the estimated time periods:

FHA
Chapter 7: 2 years
Chapter 13: 2 years
Foreclosure: 3 years
Short Sale: 3 years
(unless borrower was not late prior to short sale and was not trying to take advantage of the market)

VA
Chapter 7: 2 years
Chapter 13: 2 years
Foreclosure: 2 years
Short Sale: 2 years

VA High Balance
Chapter 7: 7 years
Chapter 13: 7 years
Foreclosure: 7 years
Short Sale: 7 years

Conventional
Chapter 7: 4 years
Chapter 13: 2 years from Discharge date or 4 years from Dismissal
Foreclosure: 7 years
Short Sale: 7 years

Short Sale: 2 years if subject loan is 80% LTV or less
4 years if subject loan is 90% LTV or less.
7 years if subject loan is over 90% LTV

Deed in Lieu: 2 years if subject loan is 80% LTV or less
4 years if subject loan is 90% LTV or less.
7 years if subject loan is over 90% LTV

If you had a Foreclosure, Short Sale or Bankruptcy, please call we can help.
Direct: 858-272-1958

FOR A FREE REPORT THAT OUTLINES THIS PROCESS, EMAIL US.

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