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Reopen the Door to Homeownership

Buying a Home After Bankruptcy, Short Sale, or Foreclosure

There is hope for people who have experienced financial hardship and want to own a home again. Underwriting guidelines have changed to make it possible!

The waiting period for purchasing a new home will depend on the scenario. Please review the chart below for more details, and call me with any questions.

Conventional

FHA

USDA

VA

Chapter 7

4 years from discharge

2 years from discharge

3 years from discharge

2 years from discharge

Chapter 13

2 years from discharge or 4 years from dismissal

1 year of payout payment performance and court permission

1 year of payout payment performance and court permission

1 year of payout payment performance and court permission

Short Sale or Deed in Lieu

4 years, 2 years allowed with extenuating circumstances

3 years

3 years

2 years unless there are extenuating circumstances

Foreclosure

7 year waiting period

3 years from date of trustee deed

3 years from date of trustee deed

2 years from completion date (recording of trustee deed)