Hi Guest,
As far as I know, you need to wait for 2-3 years after a short sale in order to get a mortgage loan/refinance in your name.
As far as I know, you need to wait for 2-3 years after a short sale in order to get a mortgage loan/refinance in your name.
Hello guest,
If the mortgage on your property is foreclosed the bank takes possession and you lose the property. You can't refinance. I have heard that to take on a new loan is possible in as little as two years.
However, if you own another property paid off or in good standing, the foreclosure could affect your ability to refinance that property. I've heard 3 years so 2 years is a plus!
:idea:
If the mortgage on your property is foreclosed the bank takes possession and you lose the property. You can't refinance. I have heard that to take on a new loan is possible in as little as two years.
However, if you own another property paid off or in good standing, the foreclosure could affect your ability to refinance that property. I've heard 3 years so 2 years is a plus!
:idea:
I don't understand how you were able to purchase a new home right after short selling another? The waiting period depends on your loan to value ratio. Here are some examples:
If your LTV is going to be 80% you must wait 2 years
If your LTV is going to be 90% you must wait 4 years
For anything over a 90% LTV you must wait 7 years
That being said, you could re-finance as long as you have no lates, you have lived there for more than a year and and your credit is in good standing. It realy depends on the loan and the lender.
If your LTV is going to be 80% you must wait 2 years
If your LTV is going to be 90% you must wait 4 years
For anything over a 90% LTV you must wait 7 years
That being said, you could re-finance as long as you have no lates, you have lived there for more than a year and and your credit is in good standing. It realy depends on the loan and the lender.