Jeff.c230, Home Buyer in Saint Petersburg, FL

Cosigner Question

Asked by Jeff.c230, Saint Petersburg, FL Wed Apr 3, 2013

So, I did a short sale 2 years ago and have been led to believe that I cannot get a loan for another year. With that being said, my wife (who has GREAT credit but is a waitress) has got her parents to agree to help out and co-sign for her to get this house right near them. Its a weird situation and this house is 64k, in Seminole and AMAZINGLY AWESOME. Can someone help out? Please email me,

Help the community by answering this question:


You are correct you need to wait 3yrs after a short sale and have a credit score above 640. Co-signers work when the borrower can show income but are just high on the ratios. The co-signer helps to bridge the gap. You need to speak to a good lender to get the best advice.
I use FBC Mortgage if you would like their contact info just let me know.
1 vote Thank Flag Link Thu Apr 4, 2013
I'd love to, but I've gotten a few agents who have gave me contacts just to be given a quick no. Thank you for your response. We are just going to keep saving in hopes that the housing market is still low next year.
Flag Thu Apr 4, 2013
Talk to a mortgage broker. They represent may different lenders and will be more likely to find you the lender that meets your specific needs. Banks have their financial packages and restrictions as do all lenders so the mortgage brokers can sort through the lenders they represent to find you the right package. There are some investors that are lending money to people that were caught up in the short sale and foreclosure debacle. However you may have to take a balloon payment for 3 years at a higher rate of interest such as 7-1/2%. So read the small print. Good Luck.
0 votes Thank Flag Link Sat Apr 20, 2013

If your girl friends credit and her parent's is good they can co -sign on the mortgage. This also means the deed would be in all 3 of their names. The lender requires anyone on the deed to be on the mortgage. That being said all 3 parties need to sign the contract paperwork. Do her parents live local or out of state? Contracts can be email scanned. Give me a call if you are looking to interview and get the right agent. I have sent this direct to your email also.

I feel an informed client makes the best decisions regarding their real estate needs. Let me know if I can be of assistance.


Pam Cohn
Broker Associate, GRI, SFR, NHS
Real Estate Consulting, Marketing & Sales
Prudential Tropical Realty
2539 Countryside Blvd #3 Clearwater, FL 33761
0 votes Thank Flag Link Wed Apr 3, 2013
I just emailed you Jeff, check your spam / junk file
0 votes Thank Flag Link Wed Apr 3, 2013
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