Need a lender who will finance a client who has a short sale 6 months ago. Good credit and financally sound.

Asked by Ken Allen, Clearwater, FL Tue May 21, 2013

For another client, need 2nd home with 5% down.

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Scott Lynn’s answer
Scott Lynn, , 33549
Tue Jun 18, 2013

I am extremely late to the party on this question. I figured I would answer it so future people asking this similar question can find my answer.

My in house mortgage company has a program that will allow a previous Short Sale Borrower 1 day after Short Sale to purchase another home. The program requires 20% down payment and the borrower must have a 680 score and 2 year work history in same job.

Please feel free to reach out to me if I can be of any assistance.

Scott Lynn

Long & Associates Realty

0 votes
Alma Kee, Agent, Tampa, FL
Tue May 21, 2013
try a credit union or purchase program.
0 votes
Jose Mejia, Agent, Tampa, FL
Tue May 21, 2013

This can be a tough one. But try Regions Bank. Their 97% Portfolio Program may work for you. It maybe a long shot, but is worth investigating. Because they keep the loan in their books, it may work out for you.

Good luck with your business ventures and we are here to serve you if you need anything else.
0 votes
, ,
Tue May 21, 2013
They can go FHA if they didn't make any late payments. There's a difference between just having a short sale and then actually going late on their mortgage which is then considered a foreclosure or pre-forclosure. The min. wait periods vary by loan program.
0 votes
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