You will need to ask your loan officer in your area. One HomePath lender said::
Bankruptcy / Foreclosures / Deed-In-Lieu
ï‚· Measures by the discharge or dismissal date
ï‚· For a previous foreclosure, the new mortgage must be the following:
- A purchase transaction secured by a Primary Residence with a maximum LTV/CLTV/HCLTV of 90%
While another HomePath Lender said:
Bankruptcy: Bankruptcy in the last 4 years is not allowed.
Multiple bankruptcies in the last 7 years are not acceptable.
Foreclosure: Foreclosures in the last 7 years are not eligible.
Deed-in-Lieu: A deed-in-lieu is not allowed in the last 4 years.
FannieMae Guidelines for Bankruptcy (Chapter 7 or Chapter 11):
A four-year waiting period is required, measured from the discharge or dismissal date of the
Exceptions for Extenuating Circumstances
A two-year waiting period is permitted if extenuating circumstances can be documented, and is
measured from the discharge or dismissal date of the bankruptcy action. Weblink: https://www.fanniemae.com/content/guide/sel040913.pdf#page=507