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“Seasoning Periods” After Short Sale With Late Payments; 2 Yrs?

After we reminded everyone yesterday about borrowers being able to buy immediately after a short sale if there were no late payments, we had many questions again about seasoning periods after a short sale with late mortgage payments.

For FHA financing, the seasoning period is 3 years.
For VA financing, the seasoning period is 2 years.
For Freddie Mac (conventional) financing, the seasoning period can be as short as 2 years IF borrowers put down at least 25% and are very strong from a credit and income perspective. Most people are unaware of the Freddie Mac option for strong borrowers.

Jay Voorhees
Founder/Broker | JVM Lending
(925) 855-4491 | DRE# 01524255, NMLS# 335646