When a borrower has had a previous foreclosure, the waiting period is 3 years if the foreclosure was due to an extenuating circumstance.
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Answer: Freddie Mac has a different approach than Fannie Mae when it comes to this topic. In terms of actual time differences between the two agencies, there are none. Both are seven (7) years waiting period or 36 months for extenuating circumstances. The difference comes in the way Freddie uses Loan Product Advisor: if you […]