Asked by jon_jon022000, Phoenix, AZ • Wed Feb 13, 2013
I am looking to buy a house and need financing. However, I had a short sale that closed about two years and two months ago. I am familiar with the 2-3 year wait time for FHA financing. I was forced to miss payments to proceed with the short sale, so I am put into the 3 year wait time.
I wanted to see if there are some other options for me. I don't have enough for a huge down payment. However, I would be qualified for financing if not for the short sale wait period. I have a 740 credit score, a good job I have been with for two years, and a good payment history. In fact, the only negative on my report is the short sale.
I was looking to see if there are any lenders who will look at financing options on a case-by-case basis? I wouldn't be opposed to a bit of a higher interest rate (5-6%), but hard money lending is just too high and require large down payments. I know I could wait another year, but I was hoping to see if there were other viable options?
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