Posted on: 09th Nov, 2010 01:55 pm
we did a short sale on 5/ 2008, and want to buy a home now. when we did the short sale we had late payments (the bank would only do it if we were late) we are being told we can't get a morgage till 5/2011
we are only putting down 3.5%.
where do we realy stand?
we are only putting down 3.5%.
where do we realy stand?
Hi wcooke,
It is true that you won't be able to get a mortgage immediately after a short sale. You will have to wait for at least 3 years in order to get a mortgage to buy a new property.
Thanks
It is true that you won't be able to get a mortgage immediately after a short sale. You will have to wait for at least 3 years in order to get a mortgage to buy a new property.
Thanks