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A Curious User
3 months ago
We did them both at the same time. I've seen it says for a foreclosure it's 3 years, but when does the time start on that. I've seen when it becomes public record by I've also been told not until someone new buys the foreclosed house?
 
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Joe Wallace
3 months ago
What type of mortgage loan are you asking about? Conventional? FHA? VA? Individual lender standards and program standards may vary. For example, for FHA mortgages, HUD 4000.1 (the FHA loan handbook) states:

"A Borrower is generally not eligible for a new FHA-insured Mortgage if the Borrower had a foreclosure or a DIL of foreclosure in the three-year period prior to the date of case number assignment. This three-year period begins on the date of the DIL or the date that the Borrower transferred ownership of the Property to the foreclosing Entity/designee."
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Corey Vandenberg
2 months ago
I would be happy to consult on this subject:
www.phmc.com/coreyvandenberg
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