Virginia, Maryland and Washington DC Real Estate Search

Portfolio Realty is a premier real estate firm serving Virginia, Maryland and Washington DC. The DC metro area real estate market demands high levels of skill, proficiency and knowledge. Whether you are eager to buy your first home, sell your nest egg, invest or relocate to the area, it is important to protect your investment by working with a local market expert.
City Min $
Zip Max $
Type Beds

Advanced Search

Baths
Refine Your Search
All Homes
Foreclosures/REO's
Short Sales
New Construction

Fannie Mae Pre-Foreclosure Announcement

To support overall market stability and reinforce the importance of borrowers working with their servicers when they have difficulty repaying their debt, Fannie Mae is updating several policies regarding the future eligibility of borrowers to obtain a new mortgage loan after experiencing a preforeclosure event (preforeclosure sale, short sale, or deed-in-lieu of foreclosure). The “waiting period” – the amount of time that must elapse after the preforeclosure event – is changing and may be dependent on the LTV ratio for the transaction and whether extenuating circumstances contributed to the borrower’s financial hardship (for example, loss of employment).

Fannie Mae is changing the required waiting period for a borrower to be eligible for a mortgage loan after a preforeclosure event. The waiting period commences on the completion date of the preforeclosure event, and may vary based on the maximum allowable LTV, CLTV, and HCLTV ratios (referred to herein as LTV ratios) and occupancy of the property.

Preforeclosure Event:
Deed-in-Lieu of Foreclosure – current waiting period requirements – 4 years
Preforeclosure Sale –
current waiting period requirements – 2 years
Short Sale – current waiting period requirements – No policy currently exists specific to

New Waiting Period Requirements

  • 2 years – 80% maximum LTV ratios
  • 4 years – 90% maximum LTV ratios
  • 7 years – LTV ratios per the Eligibility Matrix

Buyers with “Pre-Foreclosure” sales can possibly re-enter the market in as little as 2 years.  Buyers with “Foreclosures” currently need to wait 7 years for conventional loans and 3 years for FHA loans.

  1. 4 beds, 3 baths
    Home size: 2,296 sq ft
    Lot size: 7,404 sqft
  2. 5 beds, 5 baths
    Lot size: 12,632 sqft
  3. 1 bed, 1 bath
    Home size: 908 sq ft
  4. 3 beds, 3 baths
    Home size: 1,119 sq ft
  5. 3 beds, 4 baths
    Home size: 1,906 sq ft
    Lot size: 2,178 sqft
  6. 2 beds, 4 baths
    Lot size: 1,307 sqft
  7. 4 beds, 5 baths
    Home size: 4,295 sq ft
    Lot size: 13,938 sqft
  8. 4 beds, 4 baths
    Home size: 3,872 sq ft
    Lot size: 7,841 sqft

See all *Loudoun County ALL Foreclosures.
(all data current as of 7/17/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.


Also read this...


Free Foreclosure List

Free Local Virginia, Maryland and Washington DC Foreclosure Email