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ByAlex Carlucci
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This guide covers government and conventional loans after bankruptcy and foreclosure. There are mandatory waiting period requirements on government and conventional loans after bankruptcy and foreclosure. Government loans are residential home loans insured by a government agency. The mandatory waiting period on government and conventional loans after bankruptcy and foreclosure depends on the individual loan…
ByGustan Cho
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In this blog, we will cover and discuss the mortgage guidelines Chapter 13 versus Chapter 7 Bankruptcy. Homebuyers qualifying for a mortgage after bankruptcies: Homebuyers can qualify for a mortgage after bankruptcies after they pass the waiting periods. There are separate types of qualification requirements depending on the types of bankruptcies. Mortgage Guidelines Chapter 13…
ByGustan Cho
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This article is about FHA Bankruptcy waiting periods after Chapters 7 and 13. FHA Bankruptcy wqiting period requirements were release the HUD. Homebuyers can now qualify for FHA loans after Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. Please remember that FHA loan guidelines and lender-specific requirements may vary. Consult with a HUD-approved lender to get…
ByGustan Cho
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This guide covers Fannie Mae waiting period after deed-in-lieu and short sale on conventional loans. Freddie Mac and Fannie Mae are the two mortgage giants that set conventional mortgage guidelines. Conventional loans are also referred to as Conforming loans. The reason they are called conforming loans is that they need to conform to Fannie Mae…
ByGustan Cho
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This article covers Freddie Mac foreclosure guidelines on Conventional loans. Fannie Mae and Freddie Mac is the nations largest buyers of mortgage-backed securities. The role of Freddie Mac is to keep market liquidity by buying funded mortgage loans on the secondary market. Freddie Mac is the reason why mortgage lenders can originate and fund loans…
ByEric Jeanette
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This guide cover FHA versus conventional mortgage after bankruptcy. There are differences in when and how you can qualify for FHA versus conventional mortgage after bankruptcy. You can qualify earlier on FHA loans because the waiting period requirements on FHA versus Conventional mortgage after bankruptcy is shorter. The waiting period on FHA versus Conventional mortgage…
ByGustan Cho
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In this blog, we will cover and discuss the agency mortgage guidelines from the U.S. Department of Veterans Affairs for qualifying for VA loans during Chapter 7 versus 13 Bankruptcy. For those who fell victim to our country’s economic collapse and lost their jobs, chances are that they are overwhelmed with debts. There are major…
ByGustan Cho
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This guide covers qualifying for a home mortgage after forbearance. Borrowers can qualify for a home mortgage after forbearance. The CARES ACT mortgage forbearance program is not treated the same as a regular forbearance due to not being able to afford monthly mortgage payments. In this article, we will discuss and cover qualifying for a…
ByEric Jeanette
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This guide covers home loan after foreclosure waiting period guidelines to qualify for a mortgage. Millions of homeowners have had foreclosures in recent years. There are waiting period requirements to qualify for a home loan after foreclosure with government and conventional loans. Non-QM loans do not have any waiting period requirements after foreclosure. Foreclosure rates…
ByGustan Cho
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This article is about buying a foreclosed home for first-time homebuyers. Buying a foreclosed home is not always a deal. Many home buyers believe that buying a foreclosed home is always a deal. There are times when homebuyers can get a good deal. Many lenders who list foreclosed homes normally do their homework before listing…
ByGustan Cho
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This guide covers qualifying for a home loan after multiple foreclosures. Homebuyers can qualify for a home loan after foreclosure. There are waiting periods after foreclosure that are mandatory for every mortgage loan program. For example, there is a mandatory waiting period of three years from the recorded foreclosure date to qualify for an FHA…
ByGustan Cho
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This guide covers buying a house after bankruptcy discharge date. Buying a house after bankruptcy is possible. Many homebuyers think that bankruptcy is the end of the world when it comes to obtaining credit, especially a mortgage. This is not true. Many people have credit scores higher than 700 FICO less than a year before…
ByAlex Carlucci
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This guide covers understanding mortgage forbearance for homeowners who cannot pay their monthly housing payments. Phase three of the coronavirus pandemic economic stimulus package included assistance for homeowners eligible for forbearance. Homeowners financially affected by the economic meltdown due to the pandemic can defer their mortgage payments for six months. After six months, borrowers can…
ByAlex Carlucci
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This guide covers the Fannie Mae guidelines on conventional loans with a waiting period after mortgage part of bankruptcy. Many of our borrowers are folks with prior bankruptcy, foreclosure, short sale, or deed-in-lieu of foreclosure. Borrowers can qualify for a home loan after bankruptcy and foreclosure. This holds true as long as they meet the…
ByGustan Cho
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This guide covers Jumbo Loans Chapter 13 Bankruptcy Guidelines. Chapter 13 Bankruptcy Mortgage Guidelines allow borrowers to qualify for a mortgage during and after Chapter 13 Bankruptcy and after the discharge date. Under Chapter 13 Bankruptcy Mortgage Guidelines, borrowers can qualify for VA and FHA Loans during and after Chapter 13 Bankruptcy. The following paragraphs will…
ByGustan Cho
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This guide covers disabled Veterans benefits on VA loans. The Department of Veterans Affairs (VA) insures and guarantees VA Loans to private lenders. There are no minimum credit score requirements on VA Loans. There are no maximum debt-to-income ratio requirements on VA Loans. VA Loans have much easier lending guidelines than any other loan program….
ByGustan Cho
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This guide covers reaffirming debts after bankruptcy. Homebuyers can qualify for a mortgage after bankruptcy. Government and conventional loans have mandatory waiting period requirements after bankruptcy. Gustan Cho Associates offers non-QM loans. There are no waiting period requirements after bankruptcy, foreclosure, deed-in-lieu of foreclosure, or short sale with non-QM loans. Alex Carlucci, a senior loan…
ByAlex Carlucci
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This guide covers qualifying and getting pre-approved for a mortgage loan after foreclosure and short sale guidelines. Previous homeowners who had a prior foreclosure can now qualify for a mortgage loan after foreclosure and short sale. There is a minimum of a 3-year waiting period to qualify for FHA and USDA loans after foreclosure, deed-in-lieu…
ByGustan Cho
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This guide covers the FHFA FNMA Guidelines updates on Conventional loans. There are FNMA guidelines changes for mortgage loan borrowers on Conventional loans. Fannie Mae and Freddie Mac are the two mortgage giants in the United States that set mortgage requirements for Conventional loans. To qualify, conventional mortgage borrowers must meet the minimum Fannie Mae…
ByRonda Butts
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This guide covers the mortgage process experience after Chapter 13 Bankruptcy. The experience does not have to be stressful. I had the pleasure and honor of meeting Mary B. as a borrower. Now we have become lifelong friends. Mary B., like many, fell victim to the 2008 Real Estate And Credit Meltdown. Due to the…
ByGustan Cho
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This guide covers the waiting period mortgage guidelines after housing events and bankruptcy. Homebuyers with prior bankruptcy, foreclosure, deed-in-lieu of foreclosure, or short sale have a mandatory waiting period to qualify for a mortgage. FHA, VA, and USDA loan programs have a waiting period of 2 years after Chapter 7 bankruptcy. Waiting period mortgage guidelines…
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