The Date Matters
Consumers often say: "My foreclosure was three years ago." But the lender may need the actual legally relevant completion or event date, not when the borrower stopped making payments or moved out.
FHA vs. Conventional vs. VA
These programs have different rules. Do not rely on one waiting period across all loans. Confirm the current program requirement with a lender.
What If Foreclosure Was Included in Bankruptcy?
That can be especially confusing. The bankruptcy discharge date and the later property disposition or foreclosure date may both matter depending on the program. Get an actual underwriting review.
Rebuild the File
Strong recent history helps:
- On-time housing
- Managed credit
- Stable income
- Savings
- Lower debt
Buyer Planning
Lisa can help you prepare for buying before eligibility arrives:
- Neighborhoods
- Price range
- Property type
- Savings target
- Assumable opportunities
