So here is the long and short of it: if you have recently experienced a short sale, you will be ineligible for a conventional loan for at least 2 years; you may be eligible for FHA financing, however, you will have to prove that there were extenuating circumstances. These extenuating circumstances could include loss of job, death of a wage earner, hospitalization, or some of these sorts. Additionally, you cannot have had any mortgage lates in the last year. For a loan to be considered prior to 2 years, it must be strong.
Monthly Archive: September 2009
Sep
15
Sep
02
First Time Homebuyers, The Clock is ticking!
Uncle Sam wants you to buy a house! If you are a first time homebuyer, he is even willing to give you an $8000 tax credit to do so. Time is ticking away…this deal only lasts through November of 2009. With rates still low, many properties to choose from that are aggressively priced, it really is the time to take advantage of the deals and get $8000 from Uncle Sam.
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