Financing in 33134>Question Details

Jessica, Home Buyer in Miami, FL

After selling your home as a short sale, how long after can you apply for a n FHA loan?

Asked by Jessica, Miami, FL Fri Jan 27, 2012

0 votes Share Flag Financing in 33134

Help the community by answering this question:


12 months after a Short sale you're now eligible for a new HUD program for an FHA loan, as long as you have reestablished positive payment history.

The U.S. Department of Housing and Urban Development (HUD) recently announced the “Back to Work – Extenuating Circumstances” program, aimed to help people who have lost their home through foreclosure, short sale or bankruptcy. HUD has reduced the previously required minimum of 36 months to 12 months before they may be able to finance another home, given that they meet HUD’s minimum eligibility requirements.
1 vote Thank Flag Link Thu Oct 24, 2013
Here are the time frames for FHA purchases after short sale:

FHA has a 3 year waiting period after short sale, however, you may be eligible for a new FHA loan immediately after a short sale if:

o All mortgage payments due on the prior mortgage were made within the month due for the 12 month period preceding the short sale and,
o All installment debt payments for the same time period were also made within the month due.

Borrowers are not eligible for a new FHA mortgage if they pursued a short sale agreement on his or her principal residence simply to:

o Take advantage of declining market conditions, and
o Purchase, at a reduced price, a similar or superior property within a reasonable commuting distance.

Borrowers in default on their mortgage at the time of the short sale are not eligible for a new FHA-insured mortgage for three years from the date of the pre-foreclosure sale.

The full list of time frames for purchases after short sale can be found here:…
Web Reference: http://WeFixRates.Com
1 vote Thank Flag Link Fri Jan 27, 2012
Get a flexible credit loan. This program assists homeowners who have recently been through a foreclosure, short sale or have recently emerged from bankruptcy.
0 votes Thank Flag Link Sat Apr 5, 2014
You don't have to wait thanks to the FHA Back to Work Program. Which waives any Short Sale, Foreclosure, and Bankruptcy.

0 votes Thank Flag Link Thu Mar 27, 2014
FHA Back To Work Program waives Foreclosure, Bankruptcy, And Short Sale waiting periods. Borrowers who lost their homes due to foreclosure no longer have to wait 3 years to apply for a new loan.

CFS Mortgage
0 votes Thank Flag Link Sun Dec 8, 2013
After short sale, foreclosure, or filing bankruptcy, CFS Mortgage will help you determine if you can qualify for a mortgage. Take the first step and visit
0 votes Thank Flag Link Sat Aug 10, 2013
I had a short sale last year and my Realtor recommend for a home loan. I am very happy to be able to purchase again.
CFS Mortgage assists homeowners who have recently been through a foreclosure, short sale or have recently emerged from bankruptcy.
0 votes Thank Flag Link Sun Jun 2, 2013
Hello Jessica,

You can’t get a better answer than Mr. Denny’s. I can’t even think of anything to add.

I would be happy to help you with your financing. Our company Residential Finance Corporation is a National Direct Lender with access to some of the industries lowest possible rates and more importantly service second to none. We close loans on average in about 18-20 days start to finish. We underwrite and process your loan in house so you are informed every step along the way.

I look forward to hopefully hearing from you.

Joshua A. Lerette
Senior Loan Officer
Residential Finance Corporation
800.930.7334 Ext. 1108 – Toll Free
813.402.4637 – Direct Line
727.488.7355 – Cell
888.692.5967 – Fax
0 votes Thank Flag Link Tue Jan 31, 2012
Why did you have a short sale? That is a determining factor in when you will qualify for another mortgage.
0 votes Thank Flag Link Sun Jan 29, 2012
Most likely 12 months after the sale if that's all that's wrong with your credit.
0 votes Thank Flag Link Fri Jan 27, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer