Financing in Joliet>Question Details

Theresa, Home Buyer in Joliet, IL

My husband n I did a short sale 2 years ago, we have n always had very good credit, until the short sale. what can we do?

Asked by Theresa, Joliet, IL Sun Apr 15, 2012

0 votes Share Flag Financing in Joliet

Help the community by answering this question:

Answers

4
I have a perfect Lender for you to turn to:

ERic Jones
Branch Manager
Office: 3032194547
Cell: 646) 580-4839
Fax: 315-701-9198
E-MaIl: morethanlending@gmail.com
Web Site:iccmortgage.com

If you want to discuss your situation in more detail please Email me on gonyo_m@yahoo.com: When you are ready to buy your home after obtaining a pre- approval i will assist you with finding a home.

Maria Gonyo
Realty Mark Cityscape
0 votes Thank Flag Link Sat Apr 19, 2014
I'm in the same situation you are. We did our short sale 8/10 was when it was completed and was told in 2 years I could get a FHA loan. Now I was told by a FHA loan officer that the rules have changed and it is at least 3 years with a mininum credit score of 620 and 10% down. I feel lied to by so many of these financial people, nobody will sit down with you to give you a clear plan to be able to get a loan.
0 votes Thank Flag Link Sun Jun 10, 2012
Hi Theresa,

You maybe eligible to buy again with an FHA mortgage. The guidelines require 2 years from the sale date to be eligible as well as re-established credit.
0 votes Thank Flag Link Mon Apr 16, 2012
A short sale will negatively impact your credit for several years. But the impact should start waning after 2-3 years and you will become loanable again.
0 votes Thank Flag Link Mon Apr 16, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Home > Illinois > Will County > Joliet > Financing in Joliet > Question
Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer