Are they going to change the foreclosure waiting period?

We all wish they would, but there is nothing being said about it www.HOMEMORTAGEXPERT.com

There has been talk about FHA either removing or lowering the mandatory waiting period for folks with a foreclosure or short sale, however right now it's just talk. The likelihood of it actually happening is highly unlikely, since it would trigger a bunch of strategic defaults... example.. I'm $100K underwater on my home, and the same home across the street is for sale.. so, I foreclose on my home, get FHA financing to purchase the home across the street for $100K less since there's no waiting period!!.. Ya.. this product will more than likely never develop.. 3 years from the date the home was taken out of your name.. (not when you vacated the property).. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

They aren't any new guideline changes forecasted on the horizon, but this can change at any time. Currently it is a wait of minimum of 3 years.

Nothing new has surfaced as of yet.

Not likely. No rumors even floating around.

I have heard nothing about this.

I've never seen anything talked about to shorten the wait period, but I have seen plenty talk about making it longer.

Agree with Joe......have heard of lender overlays to increase the waiting period but no talk of reducing it.

No change in sight.

Generally 4 years