Effective August 1st, there are a few guidelines changes that will affect most of the loan programs out there. These changes will affect borrowers who have had any prior bankruptcies, foreclosures, or pre-foreclosures (short sales). With so many of these types of transactions taking place in the recent months, these policy changes will affect a large percentage of borrowers.
Bankruptcies:
All but Chapter 13 must be dismissed or discharged for 4 years to qualify.
Chapter 13 must be discharged f…
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Posted on August 1, 2008 at 1:51pm — 2 Comments
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