Buying After Short Sales, Foreclosures and Bankruptcy

Here’s a rundown from Jason Servais at Bank of America. Keep in mind these are general guidelines and as such there always may be exceptions:

  Conventional

Fannie Mae

FHA VA
Foreclosure 7 yrs 3 yrs 2 yrs
Short Sale 2 yrs W 80% ltv

5 yrs w 90% ltv

7 yrs higher

3 yrs 2 yrs
Bankruptcy

Chapter 7

4 yrs 2 yrs 2 yrs

 

About Jonathan

Jonathan Dalton is a 30-plus-year resident of the Valley and has been helping folks buy and sell homes since 2004. He can be reached at 602-502-9693 or info at allphoenixrealestate.com.

  • I’m not a fan of big box banks, but Jason servais of bank of America rocks! The ONLY big box bank guy I trust to get loans done. Good info!