Home Buying in 14224>Question Details

lindagwynne, Home Buyer in Depew, NY

Home loan after shortsale

Asked by lindagwynne, Depew, NY Thu Jul 12, 2012

I had to shortsale my house about 2.5 years ago due to a divorce. At the time I was living in CA where home prices are much higher. I want to purchase a new home but don't know if I have any options. Unfortunately, I can put some money down, but more like 10%, not the 20% that I know it typically looked for.

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We had a 30yr fixed. We actually had a first and second (100% financed). We were told that in order to do a short sale we had to stop paying the mortgage so we were behind on those. I was not late on anything other payments.
0 votes Thank Flag Link Tue Jul 17, 2012
For a personalized answer regarding any options you may have, do visit with any licensed loan officer; be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously.
0 votes Thank Flag Link Fri Jul 13, 2012
Unless you live in a Suburban or Rural (see USDA Map) you only need to wait 6 more months in order to FHA. For more further information click on the link:

Best of Luck!
0 votes Thank Flag Link Thu Jul 12, 2012
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