Posted on: 02nd Apr, 2010 05:44 am
My husband and I had a short sale 14 months ago with 2 late payments. We do not qualify for Fannie Mae or FHA loans, are there any other type of loans that we may qualify for? Our credit scores are still in the high 600s - low 700s
I would suggest you to wait for few more months and then apply for a FHA loan. 14 months have already passed since your property was short sold. If you could wait for 8 months more, you would be able to get a conventional or a FHA loan. If you apply for a loan now, you will have to pay a high interest rate though you have a good credit score.