What are the current rules for the FHA regarding foreclosure waiting periods?
I heard that the waiting period was reduced, is this true? by PTownsend from Placentia, California. Nov 12th 2012
Barb Lanis (BarbLanis)
#69 ranked lender in Illinois - 679 contributions
No change in their rules at this point. I receive all FHA updated guidelines. It is currently 3 years from the date of completion of the foreclosure. Meaning: The date that the title was transferred out of your name. Hope that helps!
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
The rules have not changed.. 3 years from the date the property was transferred out of your name.. not from the date you moved out.. there is talk about reducing or eliminating the foreclosure / short sale waiting periods, but i don't think we will see anything any time soon... 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
Derick Condron (rightstartoregon)
#30 ranked lender in Oregon - 598 contributions
No the time line is still 3 years from the date it was finalized
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