Home Buying in 55426>Question Details

ScottDL, Home Buyer in Minneapolis, MN

Typical wait/rebuild credit period after a short sale?

Asked by ScottDL, Minneapolis, MN Thu Jul 19, 2012

Wondering when I will be able to qualify for a loan.

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Answers

2
It is only 2 years IF you were not late on payments or if you are able to show "extenuating circumstance" and put 10% down.

90% of the time it will be three years, because a short sale with late payments is seen the same as a foreclosure.

If you are unsure and want to check with my loan officer just let me know!

~Chris
1 vote Thank Flag Link Thu Jul 19, 2012
Hi ScottDL,

2-3 years is the average.

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes Thank Flag Link Thu Jul 19, 2012
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