Can someone with a recent short sale qualify for a refinance? Any lenders out there experienced in situations like this?

Asked by Sándor Lau, Eugene, OR Wed Dec 26, 2012

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Priscilla Be…, Agent, Salem, OR
Tue Mar 26, 2013
Yes. Umpqua Bank will finance 18 months after a short sale if there are no other "lates" on your credit.
0 votes
Priscilla Be…, Agent, Salem, OR
Wed Dec 26, 2012
Sandor, the info I gave you about 18 months with this particular Oregon bank is correct. Contact me if you need further info.
0 votes
Mark Moore, Agent, Veneta, OR
Wed Dec 26, 2012
Sandor, I have former shortsale clients now trying to get a new loan. Lenders are looking at between 2-3 years depending on your credit and they have fairly strict loan criteria, so please contact specific lenders for what they require. I think any lender you call will give you similar answers. You used the term "refinance" which is a different catagory than a new loan, but I think you meant "new" loan to purchase a home.
Best Wishes and Happy New Year,
Mark
0 votes
Lana Lavenba…, Agent, Grants Pass, OR
Wed Dec 26, 2012
Actually lenders still look at it like a foreclosure ...it will be a few years before you can buy again.
0 votes
Priscilla Be…, Agent, Salem, OR
Wed Dec 26, 2012
You can qualify 18 months after a short sale if you have no more "lates" on your credit report, according to a local bank.
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