Home Buying in Vallejo>Question Details

Queenofsolano, Home Buyer in Vallejo, CA

HELP! I want to buy a home. I have credit scores in the high 700's, I have 20% cash for a down payment on a mid $200,000.00 house.

Asked by Queenofsolano, Vallejo, CA Sun Feb 3, 2013

My problem is I have a short sale on my credit report that closed in March 2012. My question: How do I go about getting a seller financed loan for about 18 months when I could then refinance into a traditional loan? Any advice would help.

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By an investment property and let the rental income exceed the mortgage. Rent for yourself instead using the positive cash flow as a savings.
0 votes Thank Flag Link Mon Feb 18, 2013
I am glad you asked, we have a good friend, who is experienced in doing exactly what you're asking for.
His name is Eric Walker 925-207-1425
email: eswalker24@gmail.com.

Let him know Sal Cafiero referred you. If you need an agent, my wife and I would be more than happy to help. You can reach us at 707-342-3073 or 714-LUV-HOME (714-588-4663).

Have a great day!
0 votes Thank Flag Link Sun Feb 3, 2013
If you are not already working with an agent, give me a call at 707-315-1684 and I think I might be able to help you. I have clients who have homes in that area and they might be willing to accomodate you. I will explain more when you give me a call.
0 votes Thank Flag Link Sun Feb 3, 2013
You should start by meeting with a local and trusted loan officer who can prequailfy. it will depend on how they reported your short sale. It should have been negotiated as part of your sale that they do not report it negatively. The loan officer will be teh best person to tell you what type sof mortagges may be available.
0 votes Thank Flag Link Sun Feb 3, 2013
On you offer, just ask for seller financing. You will want to check the county records to find owners that own their home without a note, as they will be more willing to provide the owner finance.

Best of Luck.
0 votes Thank Flag Link Sun Feb 3, 2013
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