How will a bankruptcy or foreclosure affect my ability to obtain a mortgage?
A bankruptcy must have been discharged at least two years prior to applying for a MassHousing mortgage, and the borrower’s credit must be re-established for a minimum of one year. Generally, borrowers with foreclosure and/or deeds-in-lieu less than five years prior to the date of a mortgage loan application are unacceptable. Foreclosures/deeds-in-lieu over five years may be considered on a case-by-case basis.
