FANNIE MAE CHANGES FOR THOSE WHO EXPERIENCED A SHORT SALE OR DEED IN LIEU
Posted by Sheryl Hunter
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Fannie Mae recently announced that the waiting period to finance a home after a deed in lieu of foreclosure or a short sale is changing on August 16, 2014—just a month from now.
If you are a buyer who experienced a deed in lieu of foreclosure or a pre-foreclosure sale/short sale over 2 years ago but less than 4 years ago, and are considering buying a home, you need to apply for financing with BEFORE AUGUST 16, 2014.
Homebuyers who fit this description and who submit applications ON OR AFTER August 16, 2014, will be required to wait 4 years from their short sale or deed in lieu to qualify for Fannie Mae financing, unless they have documented extenuating circumstances
If you are a buyer who experienced a deed in lieu of foreclosure or a pre-foreclosure sale/short sale over 2 years ago but less than 4 years ago, and are considering buying a home, you need to apply for financing with BEFORE AUGUST 16, 2014.
Homebuyers who fit this description and who submit applications ON OR AFTER August 16, 2014, will be required to wait 4 years from their short sale or deed in lieu to qualify for Fannie Mae financing, unless they have documented extenuating circumstances
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Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.
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