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Stacy Joel Safion
Adviser, Consultant & Consigliere to Our Clients
Orange County's Real Estate, Small Business and
Consumer Law Firm
Attorney at Law
949.347.0300
213.608.1800
800.392.7181
News You Can Use



If You Had a Foreclosure or Short Sale, You Can Still Buy a Home!
Here are the Waiting Periods:
Foreclosure:
Seven years for a government-backed Fannie Mae or Freddie Mac loan.
Three years for a Federal Housing Administration (FHA) loan.
One to two years for a FHA loan if there were extenuating circumstances (such as illness or death of a wage earner).
Short sale:
Seven years for Fannie Mae or Freddie Mac with less than 10 percent down.
Four years for Fannie Mae or Freddie Mac with 10 percent down.
Two years for Fannie Mae or Freddie Mac with 20 percent down.
Three years for an FHA loan.
Deed in lieu of foreclosure:
Seven years for Fannie Mae or Freddie Mac with less than 10 percent down.
Four years for Fannie Mae or Freddie Mac with 10 percent down.
Two years for Fannie Mae or Freddie Mac with 20 percent down.
Three years for FHA.
One to two years for FHA loan with extenuating circumstances.
Source: Fannie Mae, Department of Housing and Urban Development
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