How To Get A VA Loan After Foreclosure Or Bankruptcy...

 Hello!

I want to go over the VA guidelines for Foreclosure, and Bankruptcy.

VA

Short Sale
Deed-In-Lieu of Foreclosure
Foreclosure:
2 years from completion date
If extenuating circumstances exist – 12 months from completion date with re-established credit
Note: If the occurrence was on a VA loan, the veteran may not have full entitlement available for the new loan.

Bankruptcy Chapter 7 or 11:

2 years from discharge or dismissal date
Note: If bankruptcy was result of a business failure, provide evidence that;
Applicant obtained permanent position after business failure
No derogatory credit prior to self employment
No derogatory credit subsequent to bankruptcy

Bankruptcy Chapter 13:

2 years from discharge or dismissal date
A minimum of 12 months of payments have been made, all payments have been paid satisfactorily and Trustee or Bankruptcy Judge has approved

That’s it for today.

Thanks for reading!

Brett

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