Reader Question: What can We do during the Waiting Period?

This question comes up constantly from clients counting down the days on a waiting period after a short sale, foreclosure, or bankruptcy:

We’ll hit our 4-year mark in March. Is there anything we can do before then to get the process started, or do we just have to sit and wait until the exact date?

The short answer: you can’t make an offer before your wait period ends, but there’s a lot you can — and should — be doing in the meantime.

How the Waiting Period Clock Actually Works

Underwriters look at two key dates: the date of your purchase and sale agreement, and the date of your “official” loan application. For a purchase, your application date is triggered the moment you identify a specific property and make an offer — not whenever you first sit down with a mortgage professional. (For a refinance, it’s triggered when your credit report is pulled.) Both dates need to fall on or after your wait period’s end date.

The wait period itself starts counting from:

• The closing date on your Closing Disclosure (or HUD-1 Settlement Statement, if your short sale closed before October 2015), for a short sale
• The recording date of the deed that transferred title out of your name, for a foreclosure or deed-in-lieu
• The discharge date, for a bankruptcy

👉 Read: When Can I Buy Again After a Short Sale? for the specific wait periods by loan type.

What to Do While You’re Waiting

If you’ve got months — or years — left on your wait period, that’s time you can put to good use. Here’s where I’d start:

1. Get Your Credit Reviewed Now, Not Later

Meet with a local mortgage professional and have your credit report pulled and reviewed well before your wait period ends. You have the luxury of time right now to make adjustments that could improve your score before it matters for an application.

I’d strongly caution against handling this yourself, though. Common-sense moves like paying off and closing old accounts, or disputing items on your credit report without understanding how scoring models weigh them, can actually lower your score. A quick conversation before you touch anything can save you from setting yourself back.

👉 Read: Credit and Credit Scores Guide

2. Track Down Your Closing Documents

If you had a short sale, you’ll need a copy of your final Closing Disclosure (or HUD-1, for older transactions). If you don’t have it on hand, the escrow company or attorney’s office that handled the closing should be able to provide a copy.

If you had a foreclosure, you’ll need the deed that transferred title out of your name. If you don’t have it, you can typically request it from the county recorder’s office where the property was located. If that property was in Washington State, I’m happy to help you track it down.

If there was a bankruptcy involved, your lender will also need the complete bankruptcy filing along with the discharge paperwork.

The date on whichever document applies to you is what starts your wait period — so confirming it early means no surprises later.

3. Get Pre-Qualified Early

This still requires sitting down with a mortgage professional, but it’s worth doing well ahead of time. Reviewing your current employment, income, and assets gives you a realistic sense of what you’d qualify for today — rates and your financial picture may shift somewhat by the time your wait period ends, but it gives you a working number for down payment and closing costs to plan around. There’s really no downside to knowing where you stand early.

👉 Read: Schedule a free discovery call to get started.

If You’re Getting Close to Your Wait Period Ending

Once you’re within a few months of your eligibility date, it’s worth revisiting all of the above with your mortgage professional — credit can shift, programs can change, and you’ll want your documentation in hand and ready to go the moment you’re cleared to make an offer.

If you’ve had a short sale, foreclosure, or bankruptcy and you’re working out your timeline to buy again anywhere in Washington State, I’m happy to help you build a plan. Let’s set up a time to talk.

Updated 2026.