Home Buying in 08550>Question Details

Roy, Home Buyer in Princeton, NJ

My credit report shows mortgage legally paid in full settled for less. It has been 21 months since the shortsales. Can I get mortgage approved ?

Asked by Roy, Princeton, NJ Sun Jul 1, 2012

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Just by the info given by you, you'll have to wait for 3 more months... But having said that you could start looking at the houses again and talk to a good mortgage agent in the meantime to find out where you stand.

Let me know if I could help you further. Cell # 609.903.89003.

Good luck!
0 votes Thank Flag Link Thu Jul 12, 2012
Talk to a lender - I've got several I can recommend, email if you'd like their contact info.

Good luck to you,
Jeanne Feenick
Unwwavering Commitment to Service, Unsurpassed Results
0 votes Thank Flag Link Sun Jul 1, 2012
Just as you go to a cardiovascular specialist for your heart you must do the same for a mortgage. Trust their professionalism and experience. Guidelines are an issue as well. If you like the proper guidance please call a Mortgage Broker or Banker. If you would like for the information I am quite confident that someone at First Prestige Mortgage Services can assist. 9737448300
0 votes Thank Flag Link Sun Jul 1, 2012
The only situation that I've seen where you can get a mortgage immediately after a shortsale is if you paid your mortgage every month until it was sold. Most people typically stop paying and therefore can't qualify for a mortgage. If you were current on your payments up until it sold, then you can qualify (if income and credit are good). Contact me if you have any other questions at nicky.faucett@prufoxroach.com
0 votes Thank Flag Link Sun Jul 1, 2012
Were you current on your payments at the time of the short sale? If so, you may be able to buy now. The best thing to do is to check with a local mortgage banker. I don't mean one of the big banks, but a small, local firm that specializes in writing mortgages and only mortgages. They will look at your specific situation and tell you what you can do today, whether you need to take steps to improve your situation, what those steps are and how long it will be before you can hope to buy. I work with Annie Mac Mortgage here in Morris County, I would be glad to put you in touch with my contact there if you email me at smacdowell@kw.com. He's really wonderful, if you CAN get a mortgage, he will help you get one and if not he will tell you exactly what to do and follow up to make sure you stay on track so you will be able to buy as soon as possible.
0 votes Thank Flag Link Sun Jul 1, 2012
Good Morning unfortunately no. A short sale is treated like a bankruptcy so far as time.24 months is needed. My suggestion is to call First Prestige Mortgage Services. The company will give you the time you need and properly pisition you correctly. 973-744-8300 or 888-FHA-ROAD.
0 votes Thank Flag Link Sun Jul 1, 2012
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