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.
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