FHA – Bankruptcy Discharge – New Loan: If a property is included in a Chap 7 Discharge in 2010 will FHA use that date or the Deed Transfer Date? [NEW CHART: Derogatory Credit-ALL Agencies!]

Answer: FHA does not follow the same policy as, say, Fannie Mae or USDA, regarding foreclosures on mortgages included in a bankruptcy. FHA requires a 3-year wait period after a foreclosure even if the foreclosure was included in a bankruptcy.  The wait period is applied to date of title transfer just like any other foreclosure. Again, this answer is […]

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