House Foreclosures

      While there are a lot of questions when it comes to house foreclosures the following are two basic questions that people are asking –

How long do I have to wait before getting a home loan after having a Chapter 7 Bankruptcy?
     This totally depends on what type loan you are now applying for and what caused the Bankruptcy. VA and FHA generally require 2 years since discharge date with reestablished credit. USDA generally requires 3 years since discharge date with re-established credit. Conventional generally requires 4 years from discharge date with reestablished credit. If there are extenuating circumstances, such as loss of job, death or serious illness of wage earner, then that will cut the time required from discharge date by about 1 year.

How long do I have to wait before getting a home loan after a house foreclosure?
     Again this depends on the type of loan you are applying for and what caused the foreclosure. FHA and USDA generally require 3 years from date foreclosure completed. VA generally requires 2 years from date foreclosure completed. Conventional generally requires 7 years from date foreclosure completed. Again if there were extenuating circumstances and credit has been re-established then those times can be shorter.

     For over 30 years I have been doing home loans in Grand Junction for first time home buyers, investors, veterans or refinancing current mortgages.  I offer friendly, professional service.   So give us a call at 970-257-1502 or visit our website at  Dependable Mortgage Co., in Grand Junction, Colorado and I would consider it an honor to help you in any way that I can when it comes to financing your home.  I take my job serious as I know that when purchasing or refinancing a home is usually the biggest transaction that people will make in their life.   Rates are still low.  If you have questions, please don’t hesitate to call.

For questions on home financing in Colorado,
I can be contacted at:

Rhonda Sherman, Dependable Mortgage Company

Rhonda Sherman

Rhonda Sherman, Owner
License # 100008357  NMLS # 381084
145 Grand Avenue, Suite B
Grand Junction, CO 81501
Office: (970) 257-1502  Cell: (970) 250-8613

Website: Dependable Mortgage Co. (Apply Online 24/7)

Regulated by the Division of Real Estate
An Equal Housing Lender


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