Comparison of Loans available for Bankruptcy,Short Sales,Foreclosure

This table compares the various loan options available for bankruptcy,short sales,deed in lieu and foreclosures.Loan Options are available starting no waiting period.(See FHA Option)

Comparison of seasoning for Foreclosure,Short Sales,Bk for various loan types

2 thoughts on “Comparison of Loans available for Bankruptcy,Short Sales,Foreclosure”

  1. How long would I have to wait to get another home mortgage? I had never been late on a mortgage in 44 years.(and still not late on my other mortgages to this day,..46 years) But due to the economy problems,the 60% drop of value, and the lack of rents received from my tenants in a 4plex I owned, I requested a loan modification. (Rents were coming in pieces and late and evictions occurred..(mostly students from the college next door). After moving myself into the complex, I began going thru the motions of my loan mod.. In agreeing to be behind on my payment in order to receive the modification, I stopped making the payments. My entire world sank–credit cards cancelled me, etc. After 9 months they denied the modification, after 3 appeals and hiring an attorney, it was denied still. I chose to sell my complex on a short sale. A buyer was received in 1 day and offered more than the foreclosure amount the bank would be getting. The bank foreclosed reason given for the foreclosure over the short sale. The attorney couldn’t stop it either. I have not been late on any mortgage before or since (my current home owned since 1987 and it’s mortgage has been refied several times..last time 1 year ago on a HARP loan…But we are thinking of moving and my fear is I can not get a home loan for another 5 years???…Is the program that you have going to work for me?

    1. The waiting period for a fha loan is the least.It is 3 years ( from the date trustee deed recorded) and the loan will be for a primary residence.When did you have the foreclosure

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