Home Buying in Duarte>Question Details

Lawrencencan…, Home Buyer in Duarte, CA

Can I Purchase a home after a short sale 2 years ago.?

Asked by Lawrencencandy, Duarte, CA Tue Nov 20, 2012

I short sale my house June 2010 with pre foreclosure showing on my credit report due to job loss. Now I have stable job as an LVN nurse and me and my husband combined salary about 70k this year. I believe my score is at 580 or above (creditkarma 613) We're planning to purchase a home below 300k. I have 12k down payment. But the question is, is it time to purchase a home after my short sale back in 2010?

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13
Hello Lawrencencandy, The minimum timeframe is 3 years FHA so you have another 6 months to wait. I specialize in Under 640 Fico Score Loans and offer credit repair at no cost to raise fico scores to qualify. You may qualify for CHF Access half percent down payment program with a minimum 580 fico score which can also contribute towards your closing costs as well. We can look at your credit and begin to work on it to clean it up and I can advise you what to do to raise them. We can also look up the date your short sale closed so you can buy one day after that date coming up. I can get an approval one day after the 3 years is up.

Here is what is available in Duarte up to 350k to study.
Click the following URL to see the Listings:
http://www.mrmlsmatrix.com/DE.asp?ID=17923656760

Here is a link, flyer, maximum income limits for CHF Access and a needs list you will need to qualify to buy. Let me know what you think of these listings and how many bedrooms and the maximum payment your looking for. I can go over the programs you can qualify for which is going to be FHA 3.5% down and .5% down which is $1,500 with a minimum 580 fico score. If you want to go conventional you will need a minimum 660 fico to qualify for 5% down which is 15k. I can go over a strategy to get you into escrow...

http://www.under640ficoscoreloans.com/Pages/HalfPercentDown.aspx

CHF Access half percent down flyer, pdf
http://tinyurl.com/9ewk9nq

CHF Access income limits http://tinyurl.com/8lzf8he

Sheryl Arndt, standard needs list checked, pdf
http://tinyurl.com/9m2rsb2

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Real Estate Broker – Sr. Loan Officer CA only
REO & Short Sale Specialist
20+ Years Experience
DRE# 01140252
NMLS# 297251
760-486-4225
1 vote Thank Flag Link Tue Nov 20, 2012
You don't have to wait.....

We have a portfolio "2nd Chance" loan that allows you to buy again just one day after Short-Sale or Foreclosure. You can only have one on your credit and you will need a 20% down-payment and 660 mid FICO score.

This loan is available in - AZ, CA, CO, DC, FL, HI, IL, MD, MT, NV, NJ, NY, NC, OR, SC, VA, and WA . Loan amounts up to $4 million +
0 votes Thank Flag Link Thu May 22, 2014
You'll need to get your credit up a bit, but with 20% down there is a portfolio loan that requires no waiting period after a short sale. FHA requires a 3 year wait. Conventional a 2 year wait with 20% down.
0 votes Thank Flag Link Fri Aug 16, 2013
Hello LawrencenCandy, we have an update effective today 8-16-2013 from HUD and you only need 1 year from a BK, short sale, foreclosure or deed in lieu of foreclosure to qualify from special circumstances due to economy, job loss, etc. It only takes a few dozen questions to qualify you in minutes and go over your loan program options. Here are some links to study and consider.

http://www.under640ficoscoreloans.com/Documents/mtgee%20lett…

http://www.under640ficoscoreloans.com/Pages/Conventional.aspx

http://www.under640ficoscoreloans.com/Pages/FHA.aspx

http://www.under640ficoscoreloans.com/Pages/JumboLoan.aspx

http://www.under640ficoscoreloans.com/Pages/CHDAPLoans.aspx

http://www.under640ficoscoreloans.com/Pages/HalfPercentDown.aspx

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
20+ Years Experience
DRE# 01140252
NMLS# 297251
760-486-4225
9am till 7pm 7 days
http://youtu.be/MrygA2_8fAY

If my response was helpful, consider clicking thumbs up or Best Answer!
0 votes Thank Flag Link Fri Aug 16, 2013
Two years is the “wait” period, but it really depends on the bank. Many banks are not incline to accept an offer from someone who short sold only two years ago. Also, it makes improving your credit score in such a short amount of time a little difficult.


Check if you qualify for a mortgage. Try http http://:www.whywaitbuytoday.com
0 votes Thank Flag Link Thu Aug 15, 2013
You will likely need to get your credit score up to at least 620 and you you should be able to get a loan. If you short sold June 2010 that is 3 years after short sale. FHA is 3.5% and conventional you need 20% down 3 years after short sale.
0 votes Thank Flag Link Wed Jun 12, 2013
Looks like you guys are in the right spot to be able to do it. Let me know if you used that lender and what your thoughts were. I have several people that I helped short sale in the past and they like you are ready again to buy. Please e-mail me your experience if you have time. julie@julieville.com
0 votes Thank Flag Link Wed Jun 12, 2013
Sheryl, your first answer is correct.
0 votes Thank Flag Link Mon May 13, 2013
Yes, you may qualify with 20% down 2 years from a short sale. Here are some links to study and consider that I offer.

http://www.under640ficoscoreloans.com/Pages/Conventional.aspx

http://www.under640ficoscoreloans.com/Pages/FHA.aspx

http://www.under640ficoscoreloans.com/Pages/JumboLoan.aspx

http://www.under640ficoscoreloans.com/Pages/CHDAPLoans.aspx

http://www.under640ficoscoreloans.com/Pages/HalfPercentDown.aspx

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
20+ Years Experience
DRE# 01140252
NMLS# 297251
760-486-4225
9am till 9pm 7 days
http://youtu.be/MrygA2_8fAY
0 votes Thank Flag Link Sun May 12, 2013
I had a short sale last year and my Realtor recommend http://www.cfs-mortgage.com/flex for a home loan. I am very happy to be able to purchase again.
0 votes Thank Flag Link Sun May 12, 2013
Good morning Candy,
You and Lawrence are a few months out. This is the perfect time to start keying in on what's on the market and what's sold. You want to start a little early because it takes time be ready. If you have any questions, Were local & always available. =)
Al Marshall
Century 21 Ludecke Inc
0 votes Thank Flag Link Fri Mar 15, 2013
I suggest you work with Sheryl below. She really seems to have a handle on this situation. It is always best to work with people who are professional and understand what they are doing rather than someone who is going to fumble around.
0 votes Thank Flag Link Wed Nov 21, 2012
Hi Lawrencencandy,
I am a realtor that lives and works in Duarte! The previous email was very thorough and now comes the task of finding a trusted realtor and lender to work out the best case scenario for your specific situation.

I hope you contact me to see whether we are a good fit to work together and search for your next home.

Sincerely,
Ron Takeuchi
Town Square Real Estate
626-808-8430 cell
0 votes Thank Flag Link Wed Nov 21, 2012
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