Fannie Mae recently announced that the waiting period to finance a home after a deed in lieu of foreclosure or a short sale is changing on August 16, 2014—just a month from now.
If you are a buyer who has experienced a deed in lieu of foreclosure or a pre-foreclosure sale/short sale over 2 years ago but less than 4 years ago, and interested in buying a home, apply for financing BEFORE AUGUST 16, 2014.
Homebuyers who fit this description and who submit applications ON OR AFTER August 16, 2014, will be required to wait 4 years from their short sale or deed in lieu to qualify for Fannie Mae financing, unless they have documented extenuating circumstances.
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