Fannie Mae to Update Deed-in-Lieu of Foreclosure And Short Sale Requirements

fannie mae change to foreclosure
The waiting period requirements for people who have had a previous deed-in-lieu of foreclosure or preforeclosure sale  (aka Short Sale) are being updated to require a four-year waiting period versus the current two-year waiting period. There are exceptions for extenuating circumstances, however, they are typically limited to death of a primary wage earner and a few other elusive situations, as most do not qualify for this exception.

Let us know if you have any questions about this or about other loan scenarios  (813.707.6200).