take advantage of declining market conditions, and/or.A borrower is not eligible for a new FHA-insured mortgage if they pursued a short sale agreement on their principal residence simply to: the “seasoning requirements”) to get an FHA home loan after you have had a short sale depends on your circumstances during the short sale. A 3 year waiting period is permitted if extenuating circumstances can be documented but the most recent bankruptcy filing must have been the result of extenuating circumstances.A 5 year waiting period is required when there are multiple bankruptcy filings within the past seven years.If a single borrower has multiple bankruptcy filings, the following waiting periods apply (note: two borrowers that each have an individual filing do not count as multiple filings):

A borrower who was unable to complete the Chapter 13 plan and received a dismissal will be held to a 4 year waiting period.

The shorter waiting period based on the discharge date recognizes that borrowers have already met a portion of the waiting period within the time needed for the successful completion of a Chapter 13 plan and subsequent discharge. There are no exceptions permitted to the two-year waiting period after a Chapter 13 discharge. 2 year period from the dismissal date is permitted if extenuating circumstances can be documented.The waiting period required for Chapter 13 bankruptcy actions is measured as follows: A 2 year waiting period is permitted if extenuating circumstances can be documented.Ī distinction is made between Chapter 13 bankruptcies that were discharged and those that were dismissed.A 4 year waiting period is required and is measured from the discharge or dismissal date of the bankruptcy action.Fannie Mae requires the following waiting periods for a Chapter 7 or 11 bankruptcy:

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