Is Timeshare Foreclosure Considered Mortgage Foreclosure? A timeshare is not considered real estate and is classified as an installment loan. Foreclosure waiting period guidelines do not apply on timeshare foreclosures.
In this blog, we will cover and discuss FNMA waiting period guidelines after foreclosure for 2022. Conventional loans are often referred to as conforming loans because they need to conform to Freddie Mac and/or Fannie Mae guidelines. If lenders do not make sure conventional loans they originate and fund do not conform to FNMA or […]
In this blog, we will cover and discuss the waiting period requirements after a timeshare foreclosure. One of the most frequently asked questions we get at Gustan Cho Associates is can I qualify for a mortgage after a timeshare foreclosure? Many homebuyers go to lenders to get qualified for a home mortgage with a timeshare […]
Can I get an FHA loan with timeshare foreclosure is one of the questions we get asked a lot. Why am I reading Gustan Cho Associates can do an FHA loan with timeshare foreclosure when other lenders say I have to waiting 3 years. Are there waiting period requirements to qualify for an FHA loan […]
Yes, you can get a mortgage after bankruptcy or foreclosure. Waiting periods range from one day for non-prime loans to four or more years for conforming (Fannie Mae and Freddie Mac) mortgages.
In this blog, we will discuss and cover the recorded date in foreclosure versus the surrender date of the home. Borrowers can qualify for a mortgage after a housing event. There are three different types of housing events: Foreclosure Deed in lieu of foreclosure Short sale There is a waiting period after bankruptcy, foreclosure, deed […]
In this blog, we will discuss and cover Fannie Mae Guidelines on mortgage after foreclosure on conventional loans. Fannie Mae and Freddie Mac are the two mortgage giants that set conventional mortgage requirements. Conventional Loans are also called conforming loans because they need to conform to Fannie Mae and/or Freddie Mac Guidelines. Government Loans are […]
Qualifying For FHA Loan After Foreclosure is now possible for homebuyers who meet the mandatory waiting period after foreclosure. Fannie Mae and Freddie Mac are the two mortgage giants that are in charge of setting standards and lending guidelines on Conventional loans. Fannie Mae and Freddie Mac categorize foreclosure and deed in lieu of foreclosure […]
Qualifying for Conventional Loans After Foreclosure and Bankruptcy are much tougher than qualifying for government loans. Homebuyers can qualify for a conventional loan after foreclosure and bankruptcy. There are mandatory waiting period requirements. To qualify for a conventional loan, borrowers need a minimum credit score of 620. Debt to income ratios cannot exceed 50% DTI. […]
The conventional loan waiting period after deed in lieu of foreclosure and short sale of four years is shorter than the 7-year waiting period after a standard foreclosure. Government loans are home loans that are guaranteed by a government agency. Government-insured mortgage loans are for owner-occupant properties. Here are the types of government loans: FHA […]