Posted on: 03rd Aug, 2010 03:28 pm
Need an exception for a rate/term. Great borrower, 685 fico, <65%LTV, Owner Occ, CA but has a short sale on an INVESTMENT property that closed Jan 2010...If you can help let me know
Hi chris,
Your property was short sold in January, 2010. In that case, no lender will help you in getting a loan immediately. After a short sale, you need to wait for 2-3 years in order to qualify for a loan. Before that, no lenders would offer a mortgage to buy a new property.
Your property was short sold in January, 2010. In that case, no lender will help you in getting a loan immediately. After a short sale, you need to wait for 2-3 years in order to qualify for a loan. Before that, no lenders would offer a mortgage to buy a new property.