Forgotten Your Password?

Need to Register?

Question Icon

when will the FHA waive the waiting period?

by jrmga0_590_534 from Victorville, California. Nov 29th 2012 Reply


Travis Torcoletti (travis.torcoletti)
#0 ranked lender in South Carolina - 372 contributions

The waiting period for what?

Nov 29th 2012
1
0
William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

If your referring to the mandatory waiting period for borrowers with foreclosures or short sales, then it's only been talk.. There's nothing concrete and to be honest, we're not even sure it's going to happen... even if it does, you need to understand that FHA does not lend money.. They insure loans against default.. if FHA changed the guidelines today, it could be many, many months before any lenders pick up the program and allow it... 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

Nov 29th 2012
1
0
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 1,823 contributions

They don't. If you are subject to the waiting period, you are subject to it. If it's a foreclosure, it is 3 years plus one day. Same for short sale, unless no payments were late leading up to the close of escrow. Bankruptcy is 2 years. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Nov 29th 2012
1
0
Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

next tuesday

Nov 29th 2012
0
0
Carlo Sanchez (MortgageLendingPro)
#0 ranked lender in Utah - 1,163 contributions

RIght now!! You can apply for loan.

Nov 29th 2012
0
0
Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#77 ranked lender in Florida - 2,240 contributions

For what?

Nov 29th 2012
0
0
Phil Dumouchel (PhilDu)
#1 ranked lender in South Carolina - 2,246 contributions

Whatever it is, "don't hold your breath". Further loosening of guidelines is not very likely soon and they are under pressure to make requirements tighter to reduce risk and losses to this mortgage program.

Nov 29th 2012
0
0
Subscribe to our news feed.