Good Morning!
I hope you’re having a good week so far!
I want to go over the VA guidelines for Foreclosure, and Bankruptcy.
Here ya go…
| 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 Jumbo: 7 years from completion date |
|
| Bankruptcy: Chapter 7 or 11 |
2 years from discharge or dismissal date Note: If bankruptcy was result of a business failure, provide evidence that;
Jumbo: 7 years from dismissal or discharge date |
|
| 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 Jumbo: 7 years from dismissal or discharge date |
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That’s it for today.
Thanks for reading!