Great News for Buyers with a Short Sale!

Joe Harris — Fri, 21 May 2010 18:30:11 +0000

New Eligibility Rules Announced From Fannie Mae! There’s great news from Fannie Mae for home buyers who have experienced a short sale or deed in lieu of foreclosure. To help the housing market’s continued stability, Fannie Mae is changing the “waiting period” (i.e. the amount of time that must elapse after the preforeclosure or short …

Life After a Short Sale

Joe Harris — Tue, 15 Sep 2009 18:55:56 +0000

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.

Joe Knows Mortgages » short sales

Great News for Buyers with a Short Sale!

Life After a Short Sale