Posted on: 28th Aug, 2012 09:18 am
Our bankruptcy was discharged in June of 2010. Due to loss of income (we owned a real estate company), we could no longer keep up with our debts (though we had MUCH lower income after the demise of our company, we tried for many years to pay off our debts before finally subjecting ourselves to bankruptcy.) Prior to bankruptcy our credit was 740 + Does FANNIE MAE Homepath EVER offer exceptions on their 4 year waiting period after bankruptcy?
I have been in the business for 12 years and have never seen an expection on the conventional side.
hi stangler,
i haven't heard of exemptions in this regard. it should be noted here that if you had filed chapter 7 bankruptcy, then after the discharge, you need to wait for 2 years to get a fha loan and 4 years to get qualified for a conventional loan. in case of chapter 13, after the discharge, you will have to wait for 1 year to get a fha loan and 2 years to get a conventional loan.
thanks
i haven't heard of exemptions in this regard. it should be noted here that if you had filed chapter 7 bankruptcy, then after the discharge, you need to wait for 2 years to get a fha loan and 4 years to get qualified for a conventional loan. in case of chapter 13, after the discharge, you will have to wait for 1 year to get a fha loan and 2 years to get a conventional loan.
thanks