Short Sale/Deed in Lieu of Foreclosure
(Changes for applications taken on August 16, 2014 or later)
|
Waiting Periods
Under
the Old Guideline
(On or before 8-15-2014)
|
Waiting Periods
Under
the New Guideline
(On or after 8-16-2014) |
7 years if the borrower puts <10% down
Recovery period must have elapsed prior to the date of the application. |
4 years from the
date the deed to the property was
transferred back to the servicer. No
LTV/CLTV limitations.
|
4 years if the borrower puts 10% down
Recovery period must have elapsed prior to the date of the application. |
2 years if the borrower puts 20% down
Recovery period must have elapsed prior to the date of the application. |
