Credit Guidelines for a Mortgage

Bankruptcy and Foreclosure Seasoning

Bankruptcy and Foreclosure Seasoning

Below are the seasoning requirements for various types of loans. Foreclosures, Short Sales, Deed-in-Lieu, Preforeclosure, and Charge-Off of Mortgages are all treated the same when it comes to seasoning requirements. All are measured from the date...

What Are Extenuating Circumstances

Fannie Mae describes extenuating circumstances as isolated events that are beyond someone's control that results in the sudden, significant, and prolonged reduction in income or a catastrophic increase in financial obligations. Extenuating circumstances...