posted Jul 8, 2014, 10:44 AM by Massey Kouhssari
| DEROGATORY CREDIT MATRIX | | | Fannie Mae | Freddie Mac | FHA | VA | | Bankruptcy(Chap. 7 or 11) | 4 Years from dismissal/discharge date | 48 months from discharge/ dismissal date | 2 Years | 2 Years | | Bankruptcy (Chap. 13) | 2 Years from the discharge date, or 4 Years from dismissal date | 24 months after discharge date, or 48 months from dismissal date | 2 Years from discharge date | 12 Months with approval from Trustee or BK Judge | | Mult. BK Filings (Past 7 Years) | 5 Years from most recent dismissal/ discharge date | 60 months from most recent discharge/ dismissal date | N/A | N/A | | Foreclosure | 7 Year waiting period | 84 months from completion date as reported on the credit report | 3 Years | 2 Years | | Deed-in-Lieu of Foreclosure and Pre-foreclosure Sale | 2 Years - 80 % Max LTV, 4 Years - 90 % Max LTV, 7 Years - LTV Ratios per Eligibility Matrix | 48 months from the execution date | 3 Years | 2 Years | |
| ** Please note: This matrix does not include timeframes for extenuating circumstances. Please see the appropriate handbook/manual for further details. |
Short Sale: You can buy a home 1 day after short sale & receive financing Call for details Massey Kouhssari 949-244-1880 |
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