ReCasa Financial Blog

The 2007-2008 great recession and the real life consequences of short sales, foreclosures, bankruptcies and other bad credit issues is slowly fading away.  Many former home owners would like to purchase again, but are unsure if they can apply for a new mortgage with any likelihood of success.

Depending on the loan program selected and the cause of the credit issue, there are different waiting periods before one can apply to buy.   The waiting period is tied to the application date, not the closing date.  We cannot accept an application and just wait for the time to pass, and then close. The waiting period must pass before an application may be started.

Please note that guidelines do change. We have included an up to date Recovering Credit Waiting Period chart below. Is it time for you to be approved?

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