Waiting Periods For a Derogatory Credit Event derogatory credit event “Derogatory credit event,” is a Fannie Mae term. This can narrow your chances of qualifying for a home loan. With the right information and some patience, you will eventually land a loan to purchase your desired house. How problematic are past events? First, let’s understand what Fannie
First Time Home Buyer Programs that Can Get You Into a New House first time home buyer A first time home buyer might find it difficult to get a good and affordable home to purchase. Seems like, so many factors have really compounded the whole matters. Hence, there are a lot of formalities and paperwork you
How to secure a mortgage after a Recent Credit Event Foreclosure, Short Sale, Bankruptcy You have passed through a negative credit event that ended with a foreclosure, short sale, bankruptcy and you think that there are a three, four or seven years waiting periods before you can get a mortgage. This is true if the financial event we
Solutions If You Cannot Keep Your Home STOP FORECLOSURE If you have already defaulted on your loan it doesn’t mean that you have to go through foreclosure. You have other options available to stop foreclosure. Sometimes you can keep your home by working with your lender. Even if walking away from your home is
Understanding Foreclosures Proceedings As a homeowner, understanding foreclosures is important. The state of our economy has stabilized resulting in an improving housing market nationwide. Home prices are keeping pace with the recent upturn. You still may find yourself falling behind on your mortgage payments. A Foreclosure is a final action a mortgage lender pursues to recover