Re: 800+ Credit score, $200K+ income, Low DTI...Foreclosure within last seven years-can I refinance?
It is absolutely in practice, as long as the lender follows Fannie/Freddie guidelines. Some lenders will have what are called overlays. This means that even though the two agencies will allow a certain scenario, the lender may have made a business decision to not accept it.
The Federal Savings Bank / Member FDIC / Equal Housing Lender / Lending in all 50 States / 25 Years in the Mortgage Industry