Neither Fannie Mae or Freddie Mac address how a lender should handle a borrower who has a loan modification on their current residence and wants to buy a new residence. If this is your situation, contact me and let’s discuss your options before you try to sell your present home.
Related Article Title: 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 […]