Bshillam, Home Buyer in Elk Grove, CA

Looking for VA loan, short sale seasoning under two years with extenuating circumstances, all other credit with no late.

Asked by Bshillam, Elk Grove, CA Fri Oct 21, 2011

My wife and I have a VA certificate available, our previous note was not VA. After the short sale it was reported paid for less than agreed. We had a loss of job, had to move out of state for a new job and unfortunately after paying for two house holds for months while the house was on the market had to short sale it. Now we are looking for another mortgage. Probably in Baltimore, MD or Athens, OH. Anyone know of a credit union, bank or other financial institution that is offering a VA loan under two years of seasoning? Thanks much for your replies.

Help the community by answering this question:



VA does not have any restrictions in regards to short-sales. On the VA Lenders webpage you can find the Lender’s Handbook that will have all the program guidelines.

You always have to check with investor’s for overlays, but most of the overlays have to do with refinance guidelines and High Balance loans. But, I think the problem may be with the credit report and job stability.

Do you know your credit score? I am licensed and local in MD. Ohio is not one of my states. Hope this helps please let me know if you need more.…
0 votes Thank Flag Link Fri Oct 21, 2011
Hello there,

I believe this can be done, yes. Of course I would have to have all the documents and analyze the whole picture. I am located in Maryland and routinely lend in Ohio as well so I could cover both of those potential options if necessary.

I am available to help you at your convenience if you wish.

I also offer credit score improvement programs for free while we work on your mortgage.

If you like my answer above, consider clicking on a “Thumbs Up” or “Best Answer”


Robert L. Hanson
Gladewater National Bank
First Time Homebuyer Specialist

Direct: 240-752-7549 Cell: 301-651-7822
NMLS# 695929

Rate quote or live chat with me at the link below:
0 votes Thank Flag Link Fri Mar 21, 2014
I have a mortgage that is guaranteed by VA loan since 2007. I have been relocated to another states and I am renting where I'm relocated into. We tried keeping up to date with our mortgage payment with our primary residence but its getting to be so hard, we were late more than once since we bought it. My questions are:

1. If I short sale my primary residence, am I be able to buy another house to where I work? And if so, can I still use my VA certificate once the the primary resident short sale already?

2. And how long do I have to wait to buy another home thru VA loan.

Thank you,
0 votes Thank Flag Link Fri Mar 21, 2014
Typically you will have to wait at least two years but you should talk to some banks and see what their timelines are.

Check if you qualify for a mortgage. Try http
0 votes Thank Flag Link Sat Aug 17, 2013
Just so everyone is clear we did have some lates in the end of our loan. What I have been told is that VA will back another loan as they understand lenders are requiring borrowers to go late before they look at a short sale. So we had a conventional, short sold in March of last year and want to use our VA cert for our next loan. Do you have a lender that will support a VA backed loan without a seasoning period. Our credit is just above 640 even after the short sale. Moving to Baltimore in June and would like to make an offer prior to the move.
0 votes Thank Flag Link Wed Jan 25, 2012
When you are late on a mortgage before a short sale, it is counted as a foreclosure. I doubt VA would want to insure you for a mortgage.
0 votes Thank Flag Link Tue Dec 6, 2011
VA has a very good loan program, but for people who are not a veteran there are a few government programs available for first time owner buyers, and also current home owner, check your local government for more info or a mortgage officer, since every area may have different programs.
0 votes Thank Flag Link Mon Dec 5, 2011
Oh, only lates on the previous mortgage. All other debt has always been paid as agreed, R1 rating.
0 votes Thank Flag Link Fri Oct 21, 2011
I do have lates as we where not able to keep up with a mortgage and pay rent. Our credit score I believe is in the mid 600's. Prior to our short sale we were both 780+.
0 votes Thank Flag Link Fri Oct 21, 2011
That was the strangest thing ever. I posted a few answers, saw them <I thought> and then they were gone somehow. Oh well it looks like this could be done as long as you find the right lender. ANYTHING out of the box though ALWAYS has a greater chance of not being successful in the end. You want to keep that in the back of your mind before moving forward. Your COE would tell me something also though if your note wasn't VA it should be fine.
0 votes Thank Flag Link Fri Oct 21, 2011
Hi Bshillam,

I would be happy to help you with your VA mortgage.
Please feel free to conatct me to discuss.

John Burke
Senior Mortgage Banker
ENG Lending
0 votes Thank Flag Link Fri Oct 21, 2011

I would be more than happy to look at your current situation and gather all the fact to see if I can get you approved. My office is in Maryland and have a underwriter in my office. Therefore once I gather all the facts I can review the case with him to make sure everything would run smooth for you. As long as you had no lates and you had a legitimate case for the short sale I dont see a problem. VA is usually easier with short sales and extenuating circumstances.

Samson Doyle
AmericaHomeKey, Inc

Take Care.
0 votes Thank Flag Link Fri Oct 21, 2011
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