is fha dropping waiting period for forclosures in 2013?

The mandatory waiting period for foreclosures are as follows, assuming credit has been re-established by the borrower :oForeclosure : Must wait 3 years before eligible for FHA-insured financing

Nothing has been announced about this in the notices FHA has put out on their website. There was discussion of this on several sites last fall, but nothing has come of it.

Did find out that FHA three year waiting period is from date FHA makes claim payment, if the foreclosure was FHA insured property.

Nothing concrete as of yet.

A year or so ago, there was talk that FHA was considering lowering or removing the mandatory waiting period after a foreclosure, however nothing has been announced. In reality, even if they did, it's unlikely any lender would want to pick up that loan product.. keep in mind that FHA does not lend money.. they only insure loans against default.. the lenders.. or those with the $$$, have their own set of rules above and beyond the guidelines for FHA.. it's these "Overlays" that will most likely prevent this type of credit deficiency to be overlooked.. Lenders don't like foreclosures.. The loose 95% of the time, even if the loan is insured (deductible??), and the cost of time and money makes it even more expensive.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

No, not that I am aware of.

Not that we know of..

A year or so ago, there was talk that FHA was considering lowering or removing the mandatory waiting period after a foreclosure, however nothing has been announced. In reality, even if they did, it's unlikely any lender would want to pick up that loan product.. keep in mind that FHA does not lend money.. they only insure loans against default.. the lenders.. or those with the $$$, have their own set of rules above and beyond the guidelines for FHA.. it's these "Overlays" that will most likely prevent this type of credit deficiency to be overlooked.. Lenders don't like foreclosures.. The loose 95% of the time, even if the loan is insured (deductible??), and the cost of time and money makes it even more expensive.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com