"Seasoning" Requirements after a Foreclosure, BK, or Short Sale

From Ted Kohn of RPM Mortgage: One of the most often asked questions I receive is how long does a borrower have to wait after a BK, Short Sale, or  Foreclosure to purchase or refinance a property with RPM Mortgage.  Here's a guide of current mortgage seasoning requirements for a new loan.  

Note: If the attachment doesn't link or enlarge, contact Ted at the link above or me for a full sized copy. -David

2013: Second Lowest Mortgage Rates on Record

From Grant Norris of RPM Mortgage/Platinum Capital:

Despite the steep rise in rates in 2013, the average rate for the entire year (4.25%) is the second lowest on record next to 2012's 3.75%.  The previous 3 years were each roughly 0.25% higher and 2008 was roughly a full 1.0% higher than that.  To make this easier to digest, here's a quick recap of that info:

2008 - 6.0%
2009 - 5.0%
2010 - 4.75%
2011 - 4.5%
2012 - 3.75%
2013 - 4.25%

  

Grant Norris