Posted on: 20th Oct, 2010 10:29 pm
I had a short sale, 04/09, it did not damage my credit score, my score is 680 at this time, I have been working with all 3 credit agencies to delete some old items. Unfortunately ,as "sold for less than the amount", is isted on the agencies which is not good for me to purchase a new home, because they are listing the short sale as a forclosure due to past 120 days.
I have the money for the 3.5 FHA and interest down payment. I only need the approval of a mortgage to accept my offer.
What should I do?
I have the money for the 3.5 FHA and interest down payment. I only need the approval of a mortgage to accept my offer.
What should I do?
You need to keep looking for a lender who will accept your FHA application based upon your scenario.
[Link deactivated as per forum rules. Thanks.]
[Link deactivated as per forum rules. Thanks.]
Most lenders has new guidelines for any homeowner who's had a Short Sale or Short payoff on their previous home, however, it's a case by case basis...depending on a few circumstances. I could explain in detail if you'd like to send me an email.
I am a lender in Arizona. If you did not make any late payments prior to the short sale than according to FHA you can purchase again. If you did have even 1 late payment during the process then you can purchase again 3 years after the date of your short sale. If anyone is 2 years or more I would definitely like to consult with people to establish their credit to be ready to purchase in a great buying market with low prices & great rates.