Post Foreclosure, Bankruptcy & Short Sale

Waiting Period Matrix

Occurance
Short Sale
Foreclosure Ch. 7 Bankruptcy Ch. 13 Bankruptcy
Deed-In-Lieu
7 Years from completion date • 2 Years with max 80% 4 Years from discharge or • 2 Years from discharge date
LTV ratio dismissal date • 4 Years from dismissal date
• 4 Years with max 90%
Fannie Mae LTV ratio
• 7 Years < 90% LTV.

• 7 Years from completion date • 4 Years from completion 4 Years from discharge or 2 Years from discharge date
Freddie • 4-7 Years max 10% down date for short sale dismissal date
Mac • 4 Years for deed-in-lieu

• 3 Years from completion date 3 Years from completion date 2 Years from discharge date 1 Year of the payout must elapse
and payment performance must
*Per FHA ML 09-52, FHA
be satisfactory; buyer must
FHA can be obtained
Product

receive permission from the

in less than 3 years under
court to enter into a mortgage
certain conditions.*

2 Years from discharge date No information on 2 Years from discharge date 1 Year of the payout must elapse
this yet, assume foreclosure and payment performance must
rule of 2 years. be satisfactory; buyer must
VA receive permission from the
court to enter into a mortgage

3 Years from completion date 3 Years from completion date 3 Years from discharge date 1 Year of the payout must elapse
and payment performance must
USDA be satisfactory; buyer must
Rural receive permission from the
court to enter into a mortgage

Jumbo* Based on investor guidelines

*JUMBO waiting periods vary by lender

*Waiting period time frames may be less in situations with extenuating circumstances
*For LTV’s greater than 80% - mortgage insurance guidelines may differ
*Freddie Mac guidelines updated for 2/1/2011 changes

For more details call:

America’s Fastest Growing Mortgage Company
Todd Johnson
Vice President of Mortgage Lending America’s Fastest Growing Mortgage Company
P: 773.516.6953 C: 630.697.7148 F: 773.328.6548
todd.johnson@guaranteedrate.com
www.guaranteedrate.com/ToddJohnson
LO Lic#: IL-031.0019524-MB.0005932 NMLS ID: 224389
NMLS (Nationwide Mortgage Licensing System) ID 2611 • AZ - Guaranteed Rate, Inc. - 14811 N. Kierland Blvd., Ste. 100, Scottsdale, AZ, 85254 Mortgage Banker License # BK-0907078 • CA - Licensed by the Department of Corporations under California Residen-
tial Mortgage Lending Act Lic #413-0699 • CO - Responsible Individual is Jo Ann Theriault-Fazio, License number LMB100032530. To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm • CT - Lic #17196
& 17199 • DE - Lic #201425 • DC - Lic #MLB 5453 • FL - Lic #ML 0700402 • GA - Residential Mortgage Licensee #20973 - 3940 N. Ravenswood Ave., Chicago, IL 60613 • ID - Guaranteed Rate, Inc. Lic #MBL-5827 • IL - Residential Mortgage Licensee - IDFPR,
122 South Michigan Avenue, Suite 1900, Chicago, Illinois, 60603, 312-793-3000, 3940 N. Ravenswood Ave., Chicago, IL 60613 #MB.0005932 • IN - Lic #11060 & #10332 • IA - Lic #MBK-2005-0132 • KS - Licensed Mortgage Company - Guaranteed Rate, Inc. –
License #2005-4928 • KY - Mortgage Company Lic #MC20335 • LA - Lic #RML2866 • ME - Lic #SLM1302 • MD - Lic #13181 • MA - Guaranteed Rate, Inc. - Mortgage Lender & Mortgage Broker License MC 4994 • MI - Lic #FR-0016637 & SR-0011899 • MN - Lic
#MO 20526478 • MS - Lic #ML/004453/2010, Licensed by the Mississippi Department of Banking and Consumer Finance • MO - Lic #91744 • NE - Lic #1811 • NV - Lic #3162 & 3161 • NH - Guaranteed Rate, Inc. dba Guaranteed Rate of Delaware, licensed by
the New Hampshire Banking Department - Lic # 13931-MB • NM - Lic #1995 B500887 • NY - Licensed Mortgage Banker - NYS Banking Department - 3940 N Ravenswood, Chicago, IL 60613 Lic #LMBC No 106624 • NC - Lic #L-109803 • ND - Lic #MB101818 •
OH - Lic #SM.501367.000 • OK - Lic #2007247 • OR - Lic #ML-3836 • PA - Licensed by the Pennsylvania Banking Department Lic #19559.001 • RI - Licensed Lender Lic # 20102682LL, RI - Licensed Loan Broker Lic # 20102681LB, Rhode Island Licensed Lender
• TN - Lic #2958 • TX - Lic #50426 • UT - Lic #7495184-MLC0 • VT - Lic #LL6100 & MB930 • VA - Licensed by Virginia State Corporation Commission, License # MC-3769 • WA - Lic #520-CL-48821 • WI - Lic #27394 • WV – Lic #ML-30469