Source:  James Colton - Mortgage Specialist New Penn Financial LLC 

email:  jcolton@newpwnnfinancial.com

phome:  813-549-1399 (office) or 727-858-6632 (cell)

Did you know, on bank Foreclosures and Shortsales.

 

USDA- Ch7-3 yrs discharged

Ch 13- 1 yr discharged-(plan paid on time)

Foreclosure- 3 years prior to application

Shortsale- No waiting period

 

FHA- Ch7- 2 yrs discharged

Ch 13- 1 yr discharged -(plan paid on time)

Foreclosure- 36 months prior to application

Shortsale- 3 year waiting period from finalization

 

Conventional Ch 7- 4 yrs discharged

Ch 13- 2 yrs discharged -(plan paid on time)

Foreclosure- 84 months prior to application

Shortsale- 3 yr waiting period from finalization

 

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