do you know of lenders who are working with someone who had a short sale aprox 2 yrs ago,?

Asked by collin271, Seattle, WA Thu Sep 20, 2012

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9
Michael Dorm…, Mortgage Broker Or Lender, Puyallup, WA
Mon Sep 24, 2012
We can lend to someone with a recent Short Sale.. Then key is were the DELINQUENT or CURRENT at the time of the short sale? If so the only option is a VA loan or wait 3 years. Find out more at https://HomeFrontMortgage.com/Mike
0 votes
Annette Levi…, , New York, NY
Thu Sep 20, 2012
Whether you are qualified to get a mortgage now will depend upon why you had a shortsale. Call a loan originator and find out.
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Stacey Lange, Agent, Kirkland, WA
Thu Sep 20, 2012
I have worked with Jon Bruch (below) at Homestreet Bank a number of times and he is a GREAT lender! If nothing else it would be worth a call to him to determine where you are with qualifying and then devise a game plan for your ability to purchase.

Best of Luck!!
Web Reference:  http://www.searchseattle.net
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Puneet Sachd…, Agent, Bellevue, WA
Thu Sep 20, 2012
2yrs of good credit after shortsale and minimum 20% down will get you a conventional loan. Most loan officers should be able to do this but if you need recommendation please let me know. Goodluck!
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, ,
Thu Sep 20, 2012
Depending on what type of loan you are persuing (Conventional, FHA, VA) the guidelines will vary. Conventional loans with 80% Loan to Value requires a 2 year wait, if you want a 90% Loan to Value the wait is 4 years, If you have VA eligibility their is no seasoning requirment as long as their are no lates on the previous loan. For FHA financing you must demonstrate that the short sale was related to a financial hardship and was not a result of simply taking advantage of declining market conditions.

So it all depends on what type of financing you are looking for and the amount of equity (or down payment) you have in the home.

Call me at 206-389-4425 or email jon.bruch@homestreet.com
Jon Bruch
HomeStreet Bank
NMLS#115719
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John Stewart, Agent, Seattle, WA
Thu Sep 20, 2012
Yes. depending on how hard you have been working to rebuild your credit.
Prepaid credit cards? Phone and cable bills? Shopping cards?

Try the link that I've provided for you.
0 votes
Ray Akers, Agent, Seattle, WA
Thu Sep 20, 2012
I recommend that talk to a mortgage broker, a local in-state bank, and also a credit union. There may be a portfolio-type loan product available to you which has more generous qualification guidelines. If you need a referral, feel free to contact me directly at 206.723.2800.
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Joshua Leret…, Mortgage Broker Or Lender, Lakeland, FL
Thu Sep 20, 2012
Hello Collin271,

A short sale is treated a lot like a foreclosure when it comes to lending. But with that said, if you were never forced to go late on your loan payments before the short sale went through you can purchase right after the short sale. FHA requires 3 years from date of sale unless you can prove extenuating circumstances like a loss of job, relocation of job, death of a primary wage earner, etc. If that was the case, two years should be sufficient from date of sale. I'd be happy to work with you and look over your entire situation and see if you are able to purchase a new home.
0 votes
Marika Abuas…, Agent, Bellevue, WA
Thu Sep 20, 2012
Cobalt Mortgage, Oleg Tkach 425-478-7676. I have worked with him on a few transactions.
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