Home Buying in Orlando>Question Details

Bibi, Other/Just Looking in Orlando, FL

I "short sold" my house on 12/12 due to difficulties beyond my control. Realistically when will I be able to purchase another house. I hate

Asked by Bibi, Orlando, FL Fri Apr 12, 2013

renting?

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5
Abraham Bidhendi’s answer
Hi There:

For now the guidelines allow you to purchase a home within 2 years of your short sale.

Hope this helps.

Abraham Bidhendi
Top Producer Realtor® with over 26 years of experience
Awarded as Exit's TOP Buyer side Transactions for the State of Florida
We have had 142 successful transactions during the past year alone.
Exit Realty Access, LLC
Direct: (407) 744-2533
Fax: (407) 444-9925
Email: REOsofflorida@msn.com
Website: http://abidhendi.orlandopropertiesonline.com
Kissimmee Office: 391 N. Main St., Kissimmee, FL 34741
Altamonte Springs Office: 660 Palm Springs Dr., Suite D, Altamonte Springs, FL 32701
0 votes Thank Flag Link Sat Apr 13, 2013
Please contact me to help you. I have a lender who will hold your hand throughout the process and helps my previous short sale sellers get into a home in one year,...FREE.

Email me at: PauletteAnswers@gmail.com
0 votes Thank Flag Link Sun Jun 9, 2013
After a short-sale the standard is 2 years wait. However there is one exception, a few USDA loans can be obtained after 1 year. You will have to shop around since not every lender offers it and that type of loan is only available outside of city limits. Was this answer helpful? If so please click on the "green thumbs up" or the "best answer".

Tony Vega
La Rosa Realty
0 votes Thank Flag Link Fri Apr 12, 2013
Bibi,

The current guidelines are 24 months for a short sale and 36 months for a bankruptcy or foreclosure for conventional. FHA requires 36 months for short sale. Also note that after 36 months you are considered a "First Time Home Buyer" and may qualify for down payment assistance. Depending on your household income.

I recommend after 18 month to contact a lender to review your credit situation to make sure you are on track to purchase a new home when the 24 months are up.

Michael D. Bellamy, P.A.,
REALTOR®, SFR, BPOR
Charles Rutenberg Realty, Inc
1900 Summit Tower, Ste. 220
Orlando, FL 32810


407.536.MIKE(6453) (direct)
407.622.2122 (office)
407-567-7551 (fax)
michael@michaelbellamy.net
http://www.michaelbellamy.net
"The Standard of Excellence"
0 votes Thank Flag Link Fri Apr 12, 2013
Look at this chart, it will tell you when.

Typically 3 years on foreclosure, 2 years on a short sale...

http://www.trulia.com/blog/vincentpaige/2013/01/how_long_mus…


Vincent Paige |REALTOR® | RE/MAX Showcase
Certified Broker Price Opinion Registered Agent (BPOR)
8934 Conroy Windermere Road | Orlando, FL 32835
Direct: 407.256.8190 | Fax: 407.264.8073
E-mail: vpaige1@yahoo.com
http://www.thepremiumproperties.com
0 votes Thank Flag Link Fri Apr 12, 2013
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