Fannie Mae Guidelines after a short-sale, foreclosure, bankruptcy in Kentucky
Fannie Mae Guidelines after a short-sale, foreclosure, bankruptcy Short Sale Deed-In-Lieu of Foreclosure 4 years from completion date If extenuating circumstances exist: • DU: 2 years from completion date • LP: 2 years from completion date on owner occupied purchase or non-cash out refi nance only, max 90% LTV or max LTV per program Bankruptcy: Chapter 7 or 11 4 years from discharge or dismissal date. If extenuating circumstances exist – 2 years from discharge or dismissal date. Bankruptcy: Chapter 13 4 years from dismissal date (borrower did not complete the Chapter 13 plan) or 2 years from discharge date. If extenuating circumstances exist – 2 years from discharge or dismissal date. Multiple Bankruptcy Filings within the last 7 years 5 years from the most recent discharge date or dismissal date. If extenuating circumstances exist – 3 years from discharge or dismissal date. Foreclosure 7 years from completion date of foreclosure action as rep...