8 New Fannie Mae Homes in Kentucky


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$77,900Just Listed

250 Commerce St
Hardin, KY 42048

4 Beds |2 Baths | 2210 sq. ft.

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$37,500Back on Market

1618 Parkside Dr
Bowling Green, KY 42101

2 Beds |2 Baths | 1147 sq. ft.

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$119,000Active

120 Ridgemont Rd
Paducah, KY 42003

3 Beds |3 Baths | 2429 sq. ft.

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Coming Soon

1004 Alexander Loop
Mayfield, KY 42066

3 Beds |2 Baths | 1914 sq. ft.

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Coming Soon

912 Cuba School Rd
Mayfield, KY 42066

3 Beds |2 Baths | 1284 sq. ft.

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Coming Soon

2725 Grand Ave
Louisville, KY 40211

3 Beds |1 Baths | 1199 sq. ft.

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Coming Soon

3432 Peleske Dr
Louisville, KY 40216

3 Beds |1 Baths | 1511 sq. ft.

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Coming Soon

10520 Pinoak View Dr
Louisville, KY 40299

3 Beds |2 Baths | 1402 sq. ft.

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Kentucky First Time Home Buyer Mortgage Loans: Four things to know about…:

 

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2016 Kentucky Home Buyers Mortgage Guide After Foreclosures and Short Sales For FHA, VA, Fannie Mae, USDA, RHS


2016 Kentucky  mortgage waiting period for foreclosures and short sales for specific situations

Homebuyers are Ready to Buy After Foreclosures and Short Sales

Kentucky Conventional Loans

  • Foreclosures: 7 years from the foreclosure completion date (some applicants may qualify for a conventional loan only 3 years after with extenuating conditions including wage earner death, illness or job loss)
  • Short Sale/Deed in Lieu-Short Sale:
    • 7 year with less than 10% down of primary residence
    • 4 years with 10% down on the purchase of a primary residence
    • 4 years with 20% down on the purchase of a primary, secondary or investment property purchase
    • 2 years with extenuating circumstances, only with 20% down

Kentucky FHA Loans

  • Foreclosures: 3 years from the foreclosure completion date and transferred back to the lender to the credit report date
  • Short Sale: 3 years from the title transfer date

 

Kentucky VA Loans

  • Foreclosure: 2 years from foreclosure completion date and date transferred back to the lender
  • Short Sale: 2 years from previous sale closed date and new owner transfer date

 

Kentucky USDA Loans

** If the mortgage debt that was foreclosed, was included in a Bankruptcy – then the KY USDA Home Loan waiting periods after foreclosure “waiting period” of 3 years, starts from the date of the discharge of the Bankruptcy.  Because it can take 6 months or more for Banks to process the Foreclosure, and transfer title, this is a tremendous plus.

 

:    3 years from foreclosure completion date or sheriff sale of home

:    3 years from short-sale closing date

 

Homebuyers are Ready to Buy After Foreclosures and Short Sales

Kentucky Mortgage Resources to help save your home and get current on your mortgage


State

Approved Foreclosure Intervention/Default Counselors and Legal Aid Directory
Complete List of agencies, contact information, and the counties they serve

Better Business Bureau
The Better Business Bureau offers the “Reliability Report” which serves as a business report card.  Consumers are encouraged to check the report before they do business with an unfamiliar company.
http://www.bbb.org

Kentucky Attorney General
The state’s Attorney General protects consumers from crimes of all types.
Consumer protection:  (888) 432-9257
Identity theft:  (800) 804-7556
http://ag.ky.gov/

Kentucky Cabinet for Health and Family Services
Food stamps, health care, Medicaid, child care assistance, child support, heating and utility assistance.
http://chfs.ky.gov

Kentucky Department of Financial Institutions
The state’s Department of Financial Institutions supervises the financial services industry.

Beginning January 1, 2009, all mortgagees shall provide the “Notification to Homeowners of the Kentucky Homeownership Protection Center” document to all Kentucky borrowers, as required by KRS 286.2-020. This form is available to download by going to http://www.kfi.ky.gov/nondepository/khpc.htm.

Consumers can call to check background and license status of their loan officer, file a complaint or to report fraud.
(502) 573-3390
(800) 223-2579
http://www.kfi.ky.gov


National

U.S. Department of Agriculture-Rural Development Office
1-800-793-8861
www.rurdev.usda.gov

U.S. Department of Housing and Urban Development (HUD)
www.hud.gov

U.S. Department of Veterans Affairs (Veterans Administration)
1-800-827-1000
www.va.gov

Fannie Mae
1-800-7FANNIE (1-800-732-6643)
Freddie Mac
Information on how to buy a home and avoid foreclosure as well as financial calculators and budgeting tools.
http://www.freddiemac.com/avoidforeclosure/who_to_contact_for_help.html#sources

Calculators and tools: http://www.freddiemac.com/corporate/buyown/english/calcs_tools/

Federal Trade Commission
Consumer protection, information and complaint procedures.
1-877-FTC-HELP (1-877-382-4357)
TTY: 1-866-653-4261
Main site: www.ftc.gov/
Credit repair facts: www.ftc.gov/bcp/conlin/pubs/credit/repair

National Foundation for Credit Counseling
Consumer debt advice
www.nfcc.org.

Annual Credit Reports
www.annualcreditreports.com

Equifax
Credit reports, credit fraud protection and credit dispute information.
www.equifax.com

Experian
Credit reports, credit fraud protection and credit dispute information.
www.experian.com/

TransUnion
Credit reports, credit fraud protection and credit dispute information.
www.transunion.com

Internal Revenue Service
For Individuals: 1-800-829-1040
For Businesses: 1-800-829-4933
For Hearing Impaired: 1-800-829-4059 (TDD)
Hours of Operation: Monday through Friday, 7 a.m. to 10 p.m. local time (Alaska & Hawaii follow Pacific Time)
www.irs.gov


Local

Counselors
The Kentucky Homeownership Protection Center works with counseling agencies to provide foreclosure prevention and intervention counseling services to Kentucky residents. If you are in danger of foreclosure or need budgeting and credit help, contact the Protection Center. A representative will call you to schedule an appointment with a counselor in your area at no cost to you.

Dial 2-1-1
Some areas of Kentucky have 2-1-1 service which you can call for additional services. Where available, 2-1-1 can help locate the services you need including food, utilities, medical care, toiletries, household items, furniture and security deposits for rental units.

The Salvation Army
The Salvation Army may have funding available to assist homeowners who are behind on their mortgage payments. Visit the Salvation Army Web site to find a location near you.

Churches
Contact your church to find out if they have services available. Churches will often assist parishioners in need.Image