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Financing in 94588 : Real Estate Advice

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Activity 6
Thu Nov 19, 2015
Claudia Muller answered:
Hi I am a lender and can answer this question.
You may obtain FHA financing three years after your short sale has been deeded to the new owner.
You may obtain conventional financing after four years.
If you are looking for financing a loan amount over $625k, which would be considered a Jumbo loan, you will need to wait 7 years (per the present guidelines).
... more
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Mon Jan 27, 2014
Ali Qureshi answered:
It will be very difficult to qualify for conventional financing. FHA has easier guidelines and you maybe able to qualify on an exception basis, though very unlikely.
0 votes 7 answers Share Flag
Sun Sep 1, 2013
lendersnetwork answered:
Yes you do qualify now for a new program for FHA by HUD for people in your shoes you just need 12 months from the date of the Bankruptcy, short sale or foreclosure.

The U.S. Department of Housing and Urban Development (HUD) recently announced the “Back to Work – Extenuating Circumstances” program, aimed to help people who have lost their home through foreclosure, short sale or bankruptcy. HUD has reduced the previously required minimum of 36 months to 12 months before they may be able to finance another home, given that they meet HUD’s minimum eligibility requirements. ... more
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Sun Sep 1, 2013
lendersnetwork answered:
Yes you do qualify now for a new program for FHA by HUD for people with a BK you just need 12 months from the date of the Bankruptcy, short sale or foreclosure.

The U.S. Department of Housing and Urban Development (HUD) recently announced the “Back to Work – Extenuating Circumstances” program, aimed to help people who have lost their home through foreclosure, short sale or bankruptcy. HUD has reduced the previously required minimum of 36 months to 12 months before they may be able to finance another home, given that they meet HUD’s minimum eligibility requirements. ... more
0 votes 3 answers Share Flag
Sun Sep 1, 2013
lendersnetwork answered:
Yes you do qualify now for a new program for FHA by HUD for people with a short sale you just need 12 months from the date of the short sale or foreclosure.

The U.S. Department of Housing and Urban Development (HUD) recently announced the “Back to Work – Extenuating Circumstances” program, aimed to help people who have lost their home through foreclosure, short sale or bankruptcy. HUD has reduced the previously required minimum of 36 months to 12 months before they may be able to finance another home, given that they meet HUD’s minimum eligibility requirements. ... more
0 votes 2 answers Share Flag
Tue May 7, 2013
Grace Tam answered:
foreclosure is 7 yrs and short sale is 2 yrs. If you want to find out more about this you can call me. I do need to know more about your loan scenario.
0 votes 4 answers Share Flag
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