Home Buying in Clearwater>Question Details

Scott Harris, Home Buyer in Clearwater, FL

I had a short sale in July 2011. Is there anyway to purchase a home using VA before the two year wait period is over?

Asked by Scott Harris, Clearwater, FL Sun Apr 14, 2013

Can I get financing in place for a July purchase.

Help the community by answering this question:


We were able to buy a house using our VA right away. It can be done. Check with your lender.
0 votes Thank Flag Link Thu Apr 25, 2013
Great Question. I think that each scenario is different. Try and have a full pre- approval done and see what happens.

I for one would love to find out the results. Let us know!

If you need more assistance or a good referral to a legitimate lender, contact me.


0 votes Thank Flag Link Thu Apr 25, 2013
You are good to go in July of 2013. We are a VA Direct Lender with no overlays concerning the previous short sale. The most common stumbling block however is how your lender listed your previous mortgage. My suggestion is contact an experienced Loan Officer now so we can diagnosis or analyze your credit. You may take a little credit repair it just depends on how far behind you were at the time of close. If the lates can't be removed, the loan file has to be manually underwritten since the AUS (automated underwriting system) will deny it. In any event, our company is licensed in FL and can do manual approvals. Let us know if you have any questions.

Best of luck!
Web Reference: http://www.AFN-Loans.com
0 votes Thank Flag Link Thu Apr 25, 2013
With VA it's up to the UW discretion and no specific waiting period. Really depends on what the DU Findings say and how your overall credit file now looks. Waiting periods go from the time of title transfer.

Guideline for VA:
Short Sale:
No guidance.
Typically treated as foreclosure but is at UW discretion.
3 years or Waiting Period
w/ extenuating circumstances
1-year w/current satisfactory credit. (this is why I would need an application and run DU, I also work side by side with our underwriters)
0 votes Thank Flag Link Sun Apr 14, 2013
According to the guidelines I've read, it must be 2 years, but I would check with a local lender who does VA loans just to be 100% sure. I like Van Dyk Mortgage's Steve Stapleton - (727) 224-3319. You can also try Ruth Schoenherr at Innovative Mortgage. (727) 492-4562. Both are excellent.

Liane Jamason, REALTOR
Smith & Associates Real Estate
0 votes Thank Flag Link Sun Apr 14, 2013
Went into a mortgage mod. Litton loan svc. dragged their feet for 17 months saying I didn't send in paper work, didn't sign this or that so 17 months later they approved the modification. Now owed 18k more because of late payments and interest all the while I was making the mod payments. Told them to stick it and stopped paying. Loan charged off. They offered to settle for$7650 on 89k loan. Did that and own the house outright now. That was in July 2011. Credit score 700+ now, income of 135k a year, 48k in savings. thanks for the reply.
0 votes Thank Flag Link Sun Apr 14, 2013
Scott, Sorry to hear you had such trouble with Litton. I hear the was too often on short sales ie "you didn't send the paper work" "you didn't sign this or that" "we've "misplaced" the paper work". It is a real nightmare for a homeowner trying to clear things up and move forward. Glad to hear your credit scores are good. I checked and noticed you have a Mortgage Master in FL. They have been absolutely amazing in NY. I would check them out at http://www.mortgagemaster.com/corporate/locations

Good luck!
Flag Mon Apr 15, 2013
Did you pay your mortgage up until the day of the closing without being late?
0 votes Thank Flag Link Sun Apr 14, 2013
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