I am looking for a mortgage broker that can work wonders. Me and husband had a short sale in NY completed 6/2011 we would like to buy again.

Asked by Mimi H, Simpsonville, SC Sat Jan 5, 2013

Would like to buy again need to know how much we would need to put down in order to secure a mortgage.

thanks in advance.

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Judy Nolin, Agent, Greenville, SC
Sun Jun 16, 2013
Hi Mimi
I can refer you to several local mortgage lenders who will always TRY to do their best for a buyer. They are Have a Heart people and will work hard for you. Your lender is your best friend right now, you will know where you stand at least.
You may contact me at judynolin@gmail.com or 201-4022
Let's talk about your situation!!
Thanks, Judy
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Cindy Mello, Agent, Ripon, CA
Sun Jan 6, 2013
Hi Mimi,

My advice to you is to contact a lender. I am working with two clients now that did a short sale in 2011 and are now approved to buy a home and we are out searching. In both instances they stopped paying there mortgage to get the short sale, so that has no bearing if you are approved or not. What the new lender wants to see is a valid reason for your short sale...ie job loss or job transfer. Based on what your saying you would need 20% down to qualify has it will only be two years in June. If you wait the third year and buy in 2014 then you would only need 3.5% down. This is because you must go conventional as FHA's requirements are three years from short sale to buy again.

Good Luck!

CIndy Mello
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Nima Buva, Agent, Greenville, SC
Sun Jan 6, 2013
Mimi, contact Mark Wells of Preferred Financial. He is experienced and very knowledgable. I work with many buyers and they have either past issues with credit or no credit or taxes are not filed properly. He has helped some of my clients, given the consultation or helped in repairing the credit. His phone number is (864) 235-9596. Tell him I recommended his name and you would like to have consultation. Feel free to contact me at 864-634-8670 if you need any further assistance.
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Annette Levi…, , New York, NY
Sat Jan 5, 2013
Mimi, How soon you will qualify for a mortgage depends on how you paid your mortgage. If you stopped paying in order to get approval for a short sale, it would take a wait of at least 5 years. If you always paid on time then you would qualify for a mortgage in 6/13.
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