Will any local C.U./banks approve of a Re-fi on my current property, knowing it's only been 2 years since my short sale?

Asked by barc0040, Minneapolis, MN Thu Apr 4, 2013

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Julie Horvath, Mortgage Broker Or Lender, Blacklick, OH
Wed Apr 10, 2013
Hi Barc0040,
Northpointe Bank has developed a special loan program to assist people who have had a short sale in the recent past. I would welcome the opportunity to discuss your specific loan parameters and work with you to complete a refinance of your home. We offer in-house processing and underwriting as well as competitive interest rates. Please call me at 866.901.3570 at your convenience.

Julie A. Horvath
Northpointe Bank
Area Manager
555 Metro Place North, Suite 320
Dublin, OH 43017
NMLS ID: 563029
866.901.3570 phone
740.602.3320 mobile
0 votes
Russ Douville, , Saint Paul, MN
Wed Apr 10, 2013
The short answer is maybe. The longer answer is that it will depend on the type of loan and your current equity. If it's a VA loan we're okay two years after a short sale, if it's a conventional loan with minimal equity probably not, FHA will be somewhere in between. It's also going to depend on how you've managed your credit since the short sale. If you've had no late payments on any accounts, and you have more than three acounts, you've got a good chance. Any late payments, especially on the mortgage, or a lack of active credit accounts, and it gets more difficult.
0 votes
Jerry Sather, Mortgage Broker Or Lender, Minneapolis, MN
Thu Apr 4, 2013
A big part of that will be how your previous mortgage lender now reports that mortgage on your credit report.

Have you had a recent mortgage credit inquiry done that will show how that is now reporting?

With that bit of detailed info I can help you more specifically.

0 votes
Donald James, Agent, Edina, MN
Thu Apr 4, 2013
Yes it is possible but, as usual, l depends on the overall situation. I work with a three lenders who would like to look at your situation.
Web Reference:  http://www.mywra.net
0 votes
Ben Johnson, Agent, Minneapolis, MN
Thu Apr 4, 2013
Depending on the rest of your financial situation Matt Stengle at RoundBank may be able to help you 651-463-8300. I have used him for unique situations in the past and he has done a great job.
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