A significant number of new buyers went through foreclosure as recently as three years ago. It typically takes three years after a foreclosure or short sale for a buyer to qualify for an FHA-backed loan. In many cases, it takes just one year after a Chapter 13 bankruptcy discharge. Fannie Mae or Freddie Mac require a wait period of as much as seven years after a foreclosure or short sale before a consumer can become eligible for a conventional mortgage, though some short sellers can purchase again after as little as two years.
Buyers Back After Foreclosure
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