Home Buying in 34202>Question Details

Lending Opti…, Home Buyer in Lakewood Ranch, FL

Are there any lenders in Bradenton, Florida that will lend within 2 years after a short sale?

Asked by Lending Option, Lakewood Ranch, FL Mon Nov 19, 2012

I have a client that short sold their primary residence in Bradenton, FL almost 2 years ago. This client is looking to get financing (with 20% down, if needed) but has been told my most banks that there can not be an approval until the 2 year mark. I have heard of people financing within that timeframe and was hoping to get the names of some of these folks or suggestions for other options that may be out there.

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Yes. Any FHA product will be available to you. I prefer BB&T - Ken Wagner. Best around in my book.
1 vote Thank Flag Link Mon Nov 19, 2012
Mr. Forbes, thank you for taking the time to answer my question! I will certainly be in touch with Mr. Wagner to get his thoughts. Quickly, from everything I have gathered so far it seems as though this client would not be elidgible for FHA until the 3 year mark... Is this not the case?
Flag Mon Nov 19, 2012
Yes, FNMA just changed their underwriting so you can get a conventional loan. I'd call Michal Bander at Guaranteed Rate, 954-684-9227. He had my client approved for FHA and changed them to conventional a few days before closing when the new FNMA guidelines came out.
0 votes Thank Flag Link Wed Dec 18, 2013
With respect to your query from last month, the short answer is "yes." Fortunately, I'm a broker with access to multiple programs. If our FHA option won't work, I have some portfolio lenders that will do financing as little as 1 month after a short sale, bankruptcy or foreclosure. Since each situation is hightly individualized, feel free to reach out if you're still seeking a viable option.


Eric Johnson, Pres.
Expanse Financial, Inc.
Home Financing & Financial Counseling
0 votes Thank Flag Link Wed Dec 18, 2013
I just closed a transaction funded by Sal Sberna at Gulfside Mortgage (941)525-8471, the buyer in this case was 20 months from a Bankruptcy Filing. Follow up with Sal, he works with a number of different lenders that are available.....
0 votes Thank Flag Link Mon Nov 19, 2012
Thank you for your answer Mr. Gaudiano. I will get in touch with Sal to see what options he may have. Kind regards.
Flag Mon Nov 19, 2012
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