Loan Eligibility after Foreclosure and Bankruptcy
• Measured from the Disbursement Date• Period of time that must elapse prior to loan eligibility is as follows:
o Foreclosure - 7 years
o Charge-Off of a Mortgage Account, Deed-in Lieu, Pre-foreclosure Sale, Short Sale, Restructured, or Short Payoff of a mortgage secured by a property - 4 Years
o Chapter 7 or 11 Bankruptcy - 4 years from discharge or dismissal
o Chapter 13 Bankruptcy- 2 years from discharge or 4 years from dismissal
• Multiple events within the past 7 years are not permitted