Wednesday, September 13, 2017

Bankruptcy Seasoning For Each Loan Program...

I've written about this before, but I think it's important you know how the major mortgage programs treat Chapter 7 bankruptcy...

FHA: 2 years from discharge date, but not less than 12 months w/extenuating circumstances.

VA: 2 years from completion date.

USDA: 3 years from discharge date.

Fannie Mae: 4 years from discharge date, or dismissal date.

Freddie Mac: 4 years from discharge date or dismissal date.

That's it for today!

I hope you have a great day! Thanks for reading!

Brett

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