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Financing After Foreclosure, Short Sale, BK – Time Required

Here are the “Seasoning Periods” or “Time Required Periods” after major derogatory credit events. We publish this time and again because they often change and because people ask us about them so frequently.

ALL Periods below require FHA financing. The Seasoning Periods for Conventional financing are far longer.

  1. Short Sale with No Late Mortgage Payments Up to Date of Short Sale: 1 day.
  2. Short Sale with Late Mortgage Payments: 3 years at most lenders. Some lenders will allow 2 years with extenuating circumstances.
  3. Bankruptcy of Any Kind: 1 to 2 years, but 1 year ONLY if there were very strong extenuating circumstances that can be proved, e.g. death of a spouse, loss of job, major medical issue, etc.
  4. Foreclosure: 3 years.

Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 1197176, NMLS# 310167