Friday, August 22, 2014

Kentucky VA Mortgage Guidelines after a bankruptcy, foreclosure, short sale.

Kentucky VA Mortgage Guidelines after a bankruptcy, foreclosure, short sale. 




2 years completion date needed after a short-sale, foreclosure, or deed-in lieu of foreclosure.

If extenuating circumstances exist – 12 months from completion date with re-established credit
Note: If the occurrence was on a  Kentucky VA loan, the veteran may not have full entitlement available for the new loan.

2  year completion needed after a Chapter 7 bankruptcy
If extenuating circumstances exist – 12 months from discharge or dismissal date with re-established credit.

If it was a Chapter 13 Bankruptcy, a minimum of 12 months of payments have been made, all payments have been paid satisfactorily and Trustee or Bankruptcy Judge approval of new mortgage loan.

Joel Lobb
Senior  Loan Officer
(NMLS#57916)

 phone: (502) 905-3708
 Fax:     (502) 327-9119

 Company ID #1364 | MB73346


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