The U.S. Department of Housing and Urban Development (HUD) recently announced the â€œBack to Work â€“ Extenuating Circumstancesâ€ 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 HUDâ€™s minimum eligibility requirements.
You should be okay. If I were you I would contact the bank I have personal business with and if that doesn't work contact a lender that's knowledgeable enough to handle your stuation. I'm sure the bug question is how long ago was the short sale as well as what is you monthly debt to income. These are the questions that will make the difference and you will have to right letters of explanation as to why the property became a short sale situation..
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Excellent mortgage consultant who will work quickly to pre-approve you. If he can not get you pre-approved now, he will give a plan to get you there. I have a client he's been working with for about 1 year to help him get to the point he can be pre-approved.
Keystone Property Connections, LLC