Financing in Cary>Question Details

Peter Lee, Home Buyer in Pleasanton, CA

I foreclosed one of my rental properties in Feb 2011 my credit score is very high now around 740

Asked by Peter Lee, Pleasanton, CA Fri Feb 8, 2013

, can I refi my other investment properties and/or primary residence?

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FNMA and Freddie Mac guidelines will restrict you from obtaining loans delivered/serviced by them for 7 years from the date of your foreclosure.

Therefore, investment property financing will be tough for you it seems; unless you find a portfolio lender who will service the loan themselves; so you can look at that for your investment properties.

As far as your primary residence, you would be eligible for an FHA loan 3 yrs. from the completion date of the foreclosure. (VA loan would require 2 yrs. if you qualfy for VA loans).
1 vote Thank Flag Link Sat Feb 9, 2013
CFS Mortgage, http://www.cfsflex.com, has a flexible loan program. They allow a mortgage after a foreclosure, short sale, or chapter 7 bankruptcy. There is only a six month waiting period. This is perfect for individuals looking to become homeowners again.
0 votes Thank Flag Link Sun Jul 28, 2013
Congratulations on getting back on track! Now is an excellent time to invest in real estate. Give these folks a call:
Jeff & Michelle Harris
Revital Credit Services
http://www.RevitalCredit.com
919-239-8316
They are excellent financial advisors & have helped many of my clients get in shape to buy. Honest, ethical, and affordable, I would highly recommend them. Of course, your initial consultation is no charge, so you have nothing to lose.
Let me know if I can help you further.

Elizabeth Scott, Realtor®, Broker
e-PRO, Strategic Pricing Specialist
Fathom Realty NC, LLC
Phone: 919.306.9699
TheSmartRealtorNC@gmail.com
http://www.Elizabeth.FathomRaleigh.com
http://www.TrianglePropertyLines.blogspot.com

Be Savvy…Call the Smart Realtor
0 votes Thank Flag Link Sat Feb 9, 2013
Peter,

A lender can answer that question for you. I would be happy to refer you to an excellent lender who is easy to work with and very knowledgeable.

Liz Fortunato
Keller Williams Cary
919-830-1115
HomeSellerCary@gmail.com
http://lizfortunato.kwrealty.com
“The referral of your friends and family is the greatest compliment you can give me”
0 votes Thank Flag Link Fri Feb 8, 2013
Hello Peter,

This is a great question for a lender. Find one locally and pick his or her brain.

Good luck
0 votes Thank Flag Link Fri Feb 8, 2013
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