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: Mortgage Lender Implode-o-Meter

For Housing War Vets, a Long Wait for Low Rates

By Implode-Explode Heavy Industries

"For former home owners who've gone through foreclosure or have done short sales, it's a long road back their own driveways. Recent regulatory changes extended the waiting period for new mortgage loans eligible for sale to Fannie Mae to seven years for many borrowers who have gone through foreclosure. That makes many foreclosure victims ineligible for the best mortgage rates if they are able to secure loans."

Full post as published by Mortgage Lender Implode-o-Meter on August 23, 2010 (boomark / email).