Yes, 36 months is the minimum waiting period. Since you quit paying your mortgage, a mortgage company probably incurred a substantial loss because of you It would not make good business sense for another mortgage company to immediately give you a new mortgage.
You state that you have good income, yet you didn't make your mortgage payments. That is another red flag to a mortgage company. In additon, you credit will have suffered quite a bit too with all of the mortgage late payments.
You should plan on continuing to save for a down payment and closing costs and to wait at least 3 years.
Rodney Mason, NMLS #151088
Sr Loan Officer
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia
Prospect Mortgage offers a full selection of mortgage programs including:
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