Financing in 11801>Question Details

chandu shah, Home Buyer in Hicksville, NY

Hello....wishing happy new year to all I would like to find out about the available mortgage options in New York State after a short sale

Asked by chandu shah, Hicksville, NY Tue Dec 31, 2013

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Happy New Year! There really aren't too many options after a short sale. You will have the same options as everyone else, as long as you wait the penalty period. The minimum you'll have to wait is 3 years before you're eligible for FHA. Conventional loans require a longer wait before you're eligible for the same options as a borrower who does not have a short sale in their credit record.

Feel free to call or email me anytime. Good luck!

If my response was helpful, consider clicking BEST ANSWER!

Javier Meneses
Senior Loan Officer
NMLS #23130
310 Crossways Park Drive
Woodbury, NY 11797
(516) 606-9648 Cell
(516) 740-4478 Office
(516) 918-5383 Fax
0 votes Thank Flag Link Tue Dec 31, 2013

See my latest post to this question for some recent changes (at Chase anyway) that you might not be aware of, have a great new years!
Flag Tue Dec 31, 2013
And a happy new year to you!! For a personalized answer regarding mortgage qualification it's really in your best interest to visit/meet with any licensed loan officer; keep in mind that online answers are just speculation as information is missing. Much will depend on the circumstances that led to your path, your current credit, debt, income, etc.; generally it can take one to two years, possibly longer to qualify for a mortgage; again for a personalized answer visit with any licensed loan officer.
1 vote Thank Flag Link Tue Dec 31, 2013
Happy new year to you. Contact a bank or mortgage personnel on thurs and I am sure they can help you
0 votes Thank Flag Link Tue Dec 31, 2013
I suggest contacting Javier directly as everyone's situation is a little different. Javier will be able to give you a straight answer tailored to your situation, and he has the advantage of using various lenders to insure you get the best instituition for your situation.

Tom Brady SFR, e-PRO, SRES, BPOR
Licensed Associate Broker
Notary Public, Retired N.Y.P.D. Lt.
#1 Listing & Selling Office on Long Island
Charles Rutenberg Realty, Inc.
255 Executive Drive - Suite 208
Plainview, New York 11803
0 votes Thank Flag Link Tue Dec 31, 2013
Derek is correct, his statement is right out of the guidelines. There are exceptions to the rule. Unfortunately, very few people actually fit these scenarios.
0 votes Thank Flag Link Tue Dec 31, 2013
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