Post Foreclosure Refinancing and Applying for Investment Loan.

[Ben P.]

My primary home foreclosed in 05/2016.

On 8/2016, the lender of my investment property solicited me to refinance my mortgage with them. I informed them of the recent foreclosure, but my loan was still refinanced at 4%. This lender did not require any documentation (i.e. paycheck, bank statements, etc.) The lender only had me sign a form where they can obtain my tax form for the 3 previous years. The investment property is now generating additional cash flow. The refinance was successful, and the property is currently at around 55%LTV.

I thought that there was a 7 year waiting period to obtain a loan or refinance after a foreclosure.

Is the 7-year waiting period only for primary residences, and not for investment property?  If so, then I can probably get back in real estate investing sooner than I thought.  Does anyone have any insights on this?  I've asked a few RE friends, and they told me that the 7-year requirement is still in place.