Fannie Mae Updates on Waiting Periods after a Short Sale, Bankruptcy & Foreclosure B3-5.3-07: Significant Derogatory Credit Events — Waiting Periods and Re-establishing Credit (07/29/2014) General Information The presence of significant derogatory credit events dramatically increases the likelihood of a future default and represents a significantly higher level of default risk. Examples of significant derogatory credit events include bankruptcies, foreclosures, deeds-in-lieu of foreclosure, pre foreclosure sales, short sales, and charge-offs of mortgage accounts. Click here to get

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