Heloc foreclosure waiting period under 3 years to refinance?

Miguel2018

LoanSafe Member
Oct 16, 2018
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We had a HELOC foreclosure in mid-2016, we saved it and we are paying it on time. We were planning to refinance the house to pay off the HELOC and get cash out. At the moment our house is worth a little over 2x what we owe, including the HELOC, we tried to refinance this summer (2018) but we were told not until 2019--- we have to wait for 3 years after the foreclosure.

I heard that Fannie Mae changed its rules in August 2018 to 2 years and other lenders can refinance under 3 years, if so does anyone know how and with who?

property is in Virginia.