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.

Help the community by answering this question:

Answers

4
ext trp’s answer
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.

Sincerely,

Eric Johnson, Pres.
Expanse Financial, Inc.
Home Financing & Financial Counseling
941.713.9307
MoneyNFLA@aol.com
0 votes Thank Flag Link Wed Dec 18, 2013
Yes. Any FHA product will be available to you. I prefer BB&T - Ken Wagner. Best around in my book.
941-739-7023
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
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
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer