VA Waiting Periods: Seasoning for Foreclosure, Short Sale, & Bankruptcy

KEY TAKEAWAYS

• VA loan seasoning periods vary by event, with foreclosures typically requiring a 2-year wait, while short sales may have no waiting period if payments were current.
• Bankruptcy timing matters since Chapter 7 requires 2 years from discharge, but Chapter 13 allows qualification after just 12 months of on-time payments.
• Use the waiting period wisely by focusing on rebuilding credit, maintaining stable housing payments, and saving for closing costs.
• Extenuating circumstances can help since lenders will sometimes consider shorter waiting periods if the financial hardship was due to circumstances beyond your control.