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How long after bankruptcy, BK, foreclosure or shortsale can I buy a house? or How long does bad credit can effect my record?

posted Jul 8, 2014, 10:44 AM by Massey Kouhssari
 Fannie MaeFreddie MacFHAVA
Bankruptcy(Chap. 7 or 11)4 Years from dismissal/discharge date48 months from discharge/ dismissal date2 Years2 Years
Bankruptcy (Chap. 13)2 Years from the discharge date, or 4 Years from dismissal date24 months after discharge date, or 48 months from dismissal date2 Years from discharge date12 Months with approval from Trustee or BK Judge
Mult. BK Filings (Past 7 Years)5 Years from most recent dismissal/ discharge date60 months from most recent discharge/ dismissal dateN/AN/A
Foreclosure7 Year waiting period84 months from completion date as reported on the credit report3 Years2 Years
Deed-in-Lieu of Foreclosure and Pre-foreclosure Sale2 Years - 80 % Max LTV, 4 Years - 90 % Max LTV, 7 Years - LTV Ratios per Eligibility Matrix48 months from the execution date3 Years2 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