Evidence that (a) the bankruptcy was discharged 12 or more months ago, (b) the date of closing on a short sale was 12 or more months ago and finally (c) that 12 months have lapsed since the date of title transfer to the foreclosing lender in the event of a foreclosure
It doesn't seem fair that a lender can give up their rights to the loan, sell the servicing rights to someone else, and have the law still allow the new servicer to be able to move forward with the
original foreclosure date.
With banks less willing to
postpone foreclosure dates, we anticipate an increase of bank owned inventory, at least in the short term.»
Applicants who have gone through foreclosure are ineligible until at least three years have passed since
the foreclosure date.
If you are a VA borrower who recently had a foreclosure, you will not be eligible for a VA home mortgage for 24 months from
the foreclosure date on the credit report.
For veterans and service members who've lost a non-VA loan to foreclosure, you can typically look to obtain a VA loan once you're two years beyond
the foreclosure date.
If the you put ten percent down, this time can be shortened to as little as three years after
the foreclosure date.