Home Buying in Union City>Question Details

Bill Purvian…, Home Buyer in Hayward, CA

After my wife passed I wanted to put my daughter on the house with a new loan. Her credit is in the mid sevens and mine is in the low eights. We were

Asked by Bill Purviance, Hayward, CA Sun Jun 1, 2014

turned down because of a three year old short sale on her record. She helped a friend get a house and that friend left the house when the market tanked. She makes over $80,000.00 per year and has know bills.
Any advice?
Bill

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Answers

4
Hi Bill,

Shortfall wait time now is 4-years on conventional financing. However, there are programs depending on your " individual " case that may allow you to get financing even 1 day after a short sale. I do have an excellent lender, feel free to contact me if you have any questions.
0 votes Thank Flag Link Thu Jan 22, 2015
wait when she is eligible while work on her fico and pay bills on time. If there is a car payment try to pay it off before you apply for mortgage.
0 votes Thank Flag Link Thu Dec 11, 2014
Hi Bill, Short sale waiting time for conventional financing has now been extended to four years. Timing wise it looks like your daughter's short sale time frame would now (December) be at that mark.
You both should be good to go!
I am a local lender located in Fremont. Please feel free to contact me with any specific questions regarding this.
0 votes Thank Flag Link Wed Dec 10, 2014
Bill...Sounds like you need to find a better lender!! With the info you've provided, your situation should be a no-brainer. Find a great Loan Officer and you should be able to get this done. Best of luck...
0 votes Thank Flag Link Sun Jun 1, 2014
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