Foreclosure:
Conventional = 7 years (unless included in a bankruptcy, then 3 years possible)
FHA = 3 years (unless you meet certain criteria, then 1 year possible)
VA = 2 years
Shortsale:
Conventional = 4 years (unless you meet certain criteria, then 2 years possible)
FHA = 3 years (unless you meet certain criteria, then 1 year or even 1 day possible)
VA = 2 years
Bankruptcy:
There are many exceptions and guideline criteria on both Ch 13 and Ch 7 bankruptcies and as they relate to Conv, FHA, and VA loans and as little as 1 year after the filing date is possible, so it’s best to email or call me about your situation but as a general rule it’s 2 years from the discharge date.
Email Brian Carpenter
brian@bhomemortgage.com