Before we "short sale" our property we have a good credit. We are thinking getting a house, can we get a house if you have a "short sale" history?

Asked by New in MA, 01760 Mon Mar 17, 2014

Help the community by answering this question:

+ web reference
Web reference:

Answers

4
Anna M Brocco, Agent, Williston Park, NY
Mon Mar 17, 2014
Why rely on speculation; none of us can answer with accuracy without your financials, therefore visit with any licensed loan officer....
2 votes
Noah Seidenb…, Agent, Evanston, IL
Mon Mar 17, 2014
Talk to a lender you really trust and think things out carefully. Consider all options. Some laws have changed and you may be able to make this happen.
Good luck
2 votes
Terry McCarl…, Agent, Cape Coral, FL
Mon Mar 17, 2014
Speak with a lender regarding this. Depending on circumstances such as how far behind you are in payments (if any) and other variables come into play. I have seen some buyers be able to purchase another home very quickly after a short sale and others have to wait 3 years or longer. Each persons situation is different so no simple answer is available for your question.
2 votes
We are not behind the payments. Our property is still on the market. The reason we short sale we moved out for good education/school for our kids.
Flag Mon Mar 17, 2014
Catherine Coy, Agent, Irvine, CA
Thu May 15, 2014
The short answer is no; a short sale must "season" for two years before you can get back in the game. The exception is FHA's "Back to Work" program whereby you can get a new loan if you're one year out of short sale or foreclosusure PROVIDED THAT you meet a rigid set of criteria for what constitutes "extenuating circumstances." See a mortgage broker for more information.
0 votes
Search Advice
Search
Ask our community a question
Home Buying in Natick Zip Codes

Email me when…

Learn more