Posted on: 21st Jan, 2011 12:21 pm
Three years ago i filled bankruptcy and never reaffirmed my home loan. I made volunteer payments the whole time. In December i sold the property through a short sale. Now i am looking to buy a new home and would like to get a FHA loan. I have heard I need to wait three years. I did stop making the last couple of payments because I knew the short sale was going to go through. Any help would be appreciated
After a bankruptcy filing, you will have to wait for 2-4 years, depending upon the type of bankruptcy you filed, in order to get a mortgage. Lenders won't be ready to give you a mortgage prior to that.