Getting a mortgage after a foreclosure
The waiting periods are not a mystery. Each loan program publishes its own, and under the conventional guidelines they are shorter after a short sale or deed in lieu than after a completed foreclosure. This page sets them side by side.
Published program rules, cited
Federal program rules apply in every state
Not a lender · not a law firm
Start here
It matters before the sale,
not only after.
How a foreclosure ends changes how long the wait is. Under the Fannie Mae guidelines, a short sale or a deed in lieu carries a shorter period than a completed foreclosure.
That is one of the reasons mediation and loss-mitigation review are worth taking seriously: a resolution that keeps the home is best, but where it is not possible, the way the loan ends is still worth negotiating. The stage guides cover those options; this page covers what each outcome means for the next loan.
Two cautions. These are the guidelines the programs publish; an individual lender may add its own requirements. And none of this is a lender offer: this site is not a lender and does not refer anyone to one.
The date that counts
The Fannie Mae foreclosure period runs from the completion of the foreclosure, and the FHA period from the date title transferred. Not from the first missed payment.
Waiting periods
Foreclosure against the alternatives.
From the published Fannie Mae Selling Guide, HUD Handbook 4000.1 and VA Pamphlet 26-7. Extenuating circumstances means a documented event beyond your control, and the shorter period comes with limits.
| Consideration | After a completed foreclosure | After a short sale or deed in lieu |
|---|---|---|
| Conventional (Fannie Mae guide) | Seven years from completion; three with documented extenuating circumstances, on limited terms | Four years; two with extenuating circumstances |
| FHA | Generally three years from the transfer of title | Three years from a deed in lieu; ask a lender about a short sale |
| VA | Two years; a lender may accept one year with re-established credit where the foreclosure was beyond your control | Ask a lender |
| Chapter 7 bankruptcy (conventional) | Four years from discharge or dismissal; two with extenuating circumstances | Same |
| Chapter 13 bankruptcy (conventional) | Two years from discharge, or four from dismissal | Same |
Program rules change; the sources at the foot of the page link to the current guides.
In detail
What shortens the wait, and what does not.
Three things affect it: how the loan ended, whether a documented hardship qualifies as extenuating, and what else is still on the record.
Extenuating circumstances
The conventional guidelines allow a shorter period where a documented event beyond your control caused the foreclosure, but only on limited terms. A lender decides whether your circumstances qualify, and the documentation is the part you control.
A deficiency judgment on the record
In New Jersey a lender that wants the shortfall after a sheriff’s sale must sue within 3 months of the sale, and the homeowner may have the home’s fair market value credited against the debt. If a deficiency judgment exists, a new lender will see it. Whether one was sought is a matter of the court record.
How long the record lasts
Under the Fair Credit Reporting Act a foreclosure may be reported for up to seven years; a bankruptcy for ten. Re-established credit during the waiting period, meaning accounts paid on time since the event, is what lenders look for at the end of it.
What this page is not
It is not a lender offer, a rate quote or a recommendation of any lender. This site does not arrange loans and does not refer anyone to a lender. For the question in front of you now, whether a short sale, a deed in lieu or a modification is available in your case, the stage guides and the participating attorney are the route.
This page describes general New Jersey foreclosure procedure. It is not legal advice, and procedure has exceptions, county practice and case law that no general page can apply to an individual situation. NewJerseyForeclosureHelp.com is not a law firm, a lender, or a government agency. If a deadline, court date, or sale date is approaching, speak with an attorney promptly.
Common questions
About borrowing again.
How long after a foreclosure can I get a conventional mortgage?
Under the Fannie Mae Selling Guide, seven years from the completion of the foreclosure, or three with documented extenuating circumstances on limited terms. A short sale or deed in lieu carries four years, or two with extenuating circumstances.
What about an FHA loan?
HUD’s handbook generally makes a borrower ineligible for a new FHA-insured mortgage within three years of a foreclosure or deed in lieu, measured from the date title transferred.
And a VA loan?
The standard period after a foreclosure is two years, which a lender may shorten to one year with documented re-established credit where the foreclosure was beyond the veteran’s control.
How long does a foreclosure stay on my credit report?
Under the Fair Credit Reporting Act, most adverse items including foreclosures may not be reported more than seven years after they occur. A bankruptcy may be reported for ten years.
Does this site help me find a new lender?
No. This site is not a lender and does not refer anyone to one. The waiting periods here are the published program guidelines; an individual lender may add its own requirements.
Program guidelines and statutes behind this guide
- M1: Fannie Mae waiting periods: foreclosure, seven years from completion (three with documented extenuating circumstances, limited terms); deed-in-lieu or short sale, four years (two with extenuating circumstances); Chapter 7, four years from discharge or dismissal (two); Chapter 13, two years from discharge or four from dismissal., read 2026-09-23
- M2: FHA: generally not eligible for a new FHA-insured mortgage within three years of a foreclosure or deed-in-lieu, from the date title transferred. (HUD Handbook 4000.1, II.A.4.b.iv), read 2026-09-23
- M3: VA: the standard period after a foreclosure is two years, which a lender may shorten to one year with re-established credit where the event was beyond the veteran's control. (VA Pamphlet 26-7, Chapter 4), read 2026-09-23
- A8: Under the Fair Credit Reporting Act most adverse items, including foreclosures, may not be reported more than seven years after they occur; bankruptcies may be reported for ten years. (15 U.S.C. § 1681c(a)), read 2026-09-23
- F37: A lender seeking a deficiency must sue within **3 months** of the sale (or its confirmation), and only against a person who was a party to the foreclosure. (N.J.S.A. 2A:50-2), read 2026-09-23
- F38: In a deficiency action the debtor may put the property's fair market value in issue, and the deficiency is the debt minus that fair market value (not minus the sale price). (N.J.S.A. 2A:50-3), read 2026-09-23
Claims on this page were checked against published New Jersey law and court guidance on 2026-09-23, and waiting periods against the published Fannie Mae, HUD and VA guides, and are recorded, fact by fact, in the site's evidence file. Program rules change; the date is the date of the check.
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