How Long do I have to Wait for a Mortgage after Short Sale or Foreclosure?

How Long do I have to Wait for a Mortgage after Short Sale or Foreclosure?

Below is a chart of the waiting periods for the most common loans offered by most of today’s mortgage lenders. Notice that the FHA claims to have the shortest waiting period of only two (2) years, the sad truth is that only a slim few are able to actually pass through the very narrow guidelines established by HUD.

Mortgage Waiting Periods after Foreclosure and Short Sale

short-sale waiting periods
Waiting Periods for mortgage loans after a short sale, deed in lieu or foreclosures.


The harsh reality is that most people will find that the waiting periods to obtain a traditional mortgage after they have experienced a foreclosure, short-sale, deed-in-lieu of foreclosure, or worse bankruptcy   will be on average four or more years from the date of completion. That’s because until the recent economic downtown, most lenders wouldn’t even consider short-sales. Under most circumstances a lender could foreclose, sell the property and file a claim against the private mortgage insurer (PMI) and still remain whole.

Since relocating from Northern Michigan in 2007 I have lived in Garner (27529) with my wife Melanie and our four children. With personal production of 8MM in real estate sales across Southern Wake County I am considered to be a local market expert in the following communities: Garner (27529), Fuquay-Varina (27526), Holly-Springs (27540), Apex (27502), and Raleigh (27603, 27604, 27606, 27609, 27610)) which spans from downtown Raleigh to Willow Spring including Lake Wheeler. Call or email me, I’m here to help! Ricardo Cobos (919) 526-0183