What is the waiting period for a conventional purchase with a loan modification on the borrower’s current residence?

Answer: There is no written or defined timeline from either agency (Fannie or Freddie). In fact, they do not address a modification except for a one that may be needed for construction-to-perm loan. It is not listed as a topic under their significant derogatory credit requirements. The outcome of the ‘timeline’ allowable is most likely […]

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