Loan Modification Forum - LoanSafe.org - View Single Post - Home Loans after Foreclosure/Short Sale etc

Ambling · 01-12-2009, 02:31 PM

Keep in mind that Fannie and Freddie have a new rule in place saying thou shalt not get a loan from them for 4 years after a foreclosure. This is independent from all other underwriting guidelines... aka: it's a deal breaker for them.

Other lenders, however, may be eager to pick up the business that Fannie is throwing away. I contend that in the future there will be loan products available for 'victims of the 08 crash'!

01-12-2009, 02:31 PM	#2 (permalink)
Ambling Senior Member Join Date: Aug 2008 Posts: 121 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Home Loans after Foreclosure/Short Sale etc Keep in mind that Fannie and Freddie have a new rule in place saying thou shalt not get a loan from them for 4 years after a foreclosure. This is independent from all other underwriting guidelines... aka: it's a deal breaker for them. Other lenders, however, may be eager to pick up the business that Fannie is throwing away. I contend that in the future there will be loan products available for 'victims of the 08 crash'!