When are people with Foreclosures and Short Sales eligible to borrow again?

Some information from mortgage broker Solyent Green is People: For people with foreclosures or short sales on their record, the waiting period depends on if there are "Extenuating Circumstances" EC ( death in family, company relocation/shut down - about 5/10% of cases) or if the foreclosure or short sale was due to "Financial Mismanagement" FM (the majority of cases). Jumbo loans, Foreclosure: 7 years (FM and EC) Jumbo loans, Short Sale: 7 years FM, only 4 years EC Fannie/Freddie, Foreclosure: 7 years FM, 3 years EC Fannie/Freddie, Short Sale: 4 years FM, 2 years EC FHA Foreclosure/Short......(read more)

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