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 | |
That’s it for today.
Thanks for reading!
USDA is a 100% government insured loan. Low rates, and no down payment. However, there…
The bad news is that according to Redfin, 38% of U.S. renters don’t believe they’ll…
In Texas we have some unusual rules when it comes to getting cash out of…
If you pay your property taxes apart from your mortgage payment, and you didn’t get…
If you purchased a home using your own cash, and now would like to pull…
Did you realize that when buying a house from an immediate family member – the…
