You may have difficulty obtaining a real estate loan for several years, normally 4 years or more from the anniversary date of your short sale. Have you contacted a Hard Money Lender? These lenders make loans based on equity vs. credit history.... more
The best first step to homeownership is to talk with a lender who specializes in home lending. You will need to choose a lender at some point so its the best place to start the home buying process. This simple step will allow you to know exactly where you stand now and what you need to do in order to secure a home loan again. Call/email me if you'd like a professional referral to a couple sincere lenders in the Sacramento area. Wishing you the best of luck Betty! Hyatt Simons, REALTOR | HyattSimons.com | 916-508-1891 | calBRE# 10889685 | Coldwell Banker... more
The only item that I would add to the answers already given is that Curtis Park is closer to Oak Park which has some desirable areas but also many less than desirable areas. Drive east down Broadway from I-5 area to Oak Park and you can see the changes in the neighborhoods as mentioned in the other answers.... more
Doesn't hurt to ask! There is a good chance they would entertain your offer.. Show your pre approval and you are ready to purchase the home from him. That is something they would have to consider.. If you need a pre approval I can help you get one.. I know lenders that can approve home loans with a 580 credit score.. The Lenders Network is kind of like LendingTree for people with bad credit, self employed or other issues most banks cannot approve..... more
Probably not, however it never hurts to ask. I always council my Buyers not to expect anything when buying and REO but that "if you don't sk, you don't get." Perhaps 155 of the time the bank will make some repairs rather than lose the deal if you are still have time to walk without losing any money. Remeber when you signed the contract it clearly stated "as-is" and perhaps you're learning what i tell all my buyers interested in REO properties, with 20 plus years of experience I can assure you that rarely are these properties the deal buyers think they are. In my experience 1or possibly 2 out of every 10 are good deal, 6-7 are fair deals at best and 1 or 2 out of 10 are money pits. I hope you're in the first category.