Home Buying in Tampa>Question Details

Adam Callend…, Renter in Tampa, FL

Are there any lenders that will finance you if you have a short sale on your credit report in the last year/2 years?

Asked by Adam Callender, Tampa, FL Fri Oct 12, 2012

I closed on a short sale of my townhouse in Dec 2011. My credit score is already back over 700, I have been at my job for 3 years, have verifiable income/assets and have 20% to put down. Are there any lenders out there who would consider giving me a loan?

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Usually to do a new mortgage Fannie Mae or FHA will grant approval after 2years from a short sale if it is for extenuating circumstances. The most commonly seen is job transfer. Usually job loss or divorce is not considered to be extenuating. Check with a mortgage lender to see if they think you may qualify. I would suggest contacting Kevin Reeves at 813-728-4992. Good luck.
0 votes Thank Flag Link Fri Oct 12, 2012
Yes try GTE Financial and other credit unions. They lend their member's money and if it makes business sense they may grant you a mortgage.

Do you have something in writing that you were forgiven the loss on your short sale? If not you may still owe that lender..

All the best,
Alma Kee
Future Home Realty
0 votes Thank Flag Link Fri Oct 12, 2012
Yes. Plus you can always use a Hard Loan lender to get a loan for a term of 1 or 2 years, and then refinance to a regular conventional.
0 votes Thank Flag Link Fri Oct 12, 2012
Good Morning Adam,

There a certain lenders that may take on your file if other factors of your file are strong. However, it is very important that you provide your new lender evidence that the title of the home has been transferred back to the former lender that you used to finance your home. They will go by that date of transfer to measure when you were no longer the owner, not by the time of when you completed the short sale closing. I have provided a web link below so that you may find that date.

Call or email me if you have further questions.

Web Reference: http://www.hcpafl.org/
0 votes Thank Flag Link Fri Oct 12, 2012
Yes there are. There are a few different loan programs that you would probably qualify for. As always, you should not have your credit pulled several times because that will bring down your credit score. Always speak to someone knowledgable first and they can direct you who to go to. There are actually some programs that are no money down that you may qualify for.
0 votes Thank Flag Link Fri Oct 12, 2012

See the attached programs: http://www.pro-option.com

And then call me 813 443 0808
0 votes Thank Flag Link Fri Oct 12, 2012
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