Mortgage Blog

Refinance for those who has recent foreclosure

April 2nd, 2012 12:30 PM by Eric Fang

It's very interesting that we found that Fannie Mae
can get you loans if the foreclosure is over 2 year

And it surprised me that the borrower just got
a loan with a bank even though they had the
foreclosure history.

Very very interesting. I will keep you posted
once I have more info on this issue.
I know someone must be interested in this as well.

Posted in:General
Posted by Eric Fang on April 2nd, 2012 12:30 PM

Only for refinance though, right? not for purchase loans? It will unlease a new wave of buyers if they become eligible again.
Posted by James Wang on April 3rd, 2012 8:46 PM

But there are one buyer who got the loan with a bank recently. Ad this couple did a foreclosure two years ago. So if the bank wants to hold the loan(not sell to Fannie Mae/Freddie Mac), then it seems to me it's ok. The lender thinks it's much safer now after 25% down payment. There are not much room for the RE price going down.
Posted by Eric Fang on April 3rd, 2012 10:42 PM



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