Waiting Periods for BK, Foreclosure, & Short Sale
Here are the waiting periods for getting a new home mortgage after you've had a bankruptcy, foreclosure, or short sale.
TransUnion recently released the results of a new study titled “The Bubble, the Burst and Now - What Happened to the Consumer?” The study revealed that 1.5 million homeowners that were negatively impacted by the housing crisis could re-enter the housing market in the next three years. TransUnion defined “negatively impacted” as…
“…those who were 60+ days past due on a mortgage loan, lost their mortgage through foreclosure, short sale or other non-satisfactory closure, or had a mortgage loan modification between the Bubble and Burst.”
Other interesting findings in the study:
Here are the numbers of consumers who will meet mortgage guidelines over the next four years:
If you are a family that experienced the impact of the last housing crisis, now may be the right time to again buy your own home.
Disclaimer on waiting periods above:
Blog Archive2019-04-05 09:15:09
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