Not exact matches
Some market watchers buy that line, noting the two firms have used only about a quarter of the US$ 400 billion put at their disposal
after Washington seized them in September 2008 due to
losses from rising home
foreclosures and falling home values.
Borrowers who wish to use an FHA loan
after a
foreclosure, deed in lieu, short sale or bankruptcy in 2014 must be able to demonstrate Satisfactory Credit
after the Economic Event (
loss of job / income).
FHA has indicated they are making this move to increase their capital reserves
after suffering major
losses due to
foreclosures and the mortgage market meltdown.
On a true
foreclosure, they can usually come
after you later on for any
loss.
For homeowners who had extenuating circumstances such as prolonged income
loss or major medical expenses, Fannie Mae has shortened its waiting periods to two years
after a pre-
foreclosure sale — a short sale or deed in lieu of
foreclosure — and to three years
after a
foreclosure.