Qualifying for a Kentucky mortgage with bad credit after a bankruptcy, foreclosure, short sale
The waiting period is determined by the nature of the financial hardship and the type of mortgage your are applying for. Kentucky FHA Guidelines for the following: Bankruptcy – You may apply for a FHA insured loan after your bankruptcy has been discharged for TWO (2) years with a Chapter 7 Bankruptcy. You may apply for a FHA insured loan after your bankruptcy has been discharged for ONE (1) year with a Chapter 13 Bankruptcy Foreclosure – You may apply for a FHA insured loan THREE (3) years after the sale/deed transfer date. Short Sale / Deed in Lieu – You may apply for a FHA insured loan THREE (3) years after the sale/deed transfer date. FHA treats short sale, deed in lieu and foreclosure as the same waiting periods. Credit must be re-established no late payments in past 12-24 months, depending on hardship Application Date must be after the above waiting period to be eligible for FHA financing after hardship. Kentucky VA Mortgage Guidelines Bankruptcy Ch 7 – You m...