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.
Senior Loan Officer
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