Ryan Smith, Real Estate Pro in Murrieta, CA

Looking for a lender that can finance 2 years after a short sale instead of three. Had mortgage lates prior to the short sale.

Asked by Ryan Smith, Murrieta, CA Wed Feb 13, 2013

Can do FHA or Conventional 10 percent. Ficos mid to high 600s.

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+ web reference
Web reference:


Claudia Mull…, Mortgage Broker Or Lender, Fremont, CA
Wed Feb 13, 2013
Conventional will allow after 2 years with acceptable extenuating circumstance ie;death or job transfer.
Otherwise will want 20% down and 2 years from date of occurrence.
FHA requires three years.
VA 2 years.
Make sure you get yourself FULLY PREapproved with Valli's program as two of us have now said it is not doable with 10% and we all underwrite to the same FNMA standards on conventional files.
1 vote
Craig Bosse, Agent, Walnut Creek, CA
Thu May 22, 2014
You don't have to wait.....

We have a portfolio "2nd Chance" loan that allows you to buy again just one day after Short-Sale or Foreclosure. You can only have one on your credit and you will need a 20% down-payment and 660 mid FICO score.

This loan is available in - AZ, CA, CO, DC, FL, HI, IL, MD, MT, NV, NJ, NY, NC, OR, SC, VA, and WA . Loan amounts up to $4 million +
0 votes
Kevin and Ju…, Agent, Wildomar, CA
Sun Apr 6, 2014
FHA 'Back to work' program may work for you -

Kevin McLaughlin, Broker Owner
Berkshire West Realty

0 votes
Claudia Mull…, Mortgage Broker Or Lender, Fremont, CA
Wed Apr 2, 2014
An extenuaring circumstance or Economic Event is any occurrence beyond the borrower's control that results in:
A 20 percent or more reduction in a borrower’s Household Income for a minimum period of six months resulting from a Loss of Employment, Income or a combination of both. An Economic Event includes the following definitions:
• Onset of an Economic Event: The month of loss of employment/income.
• Recovery from an Economic Event: The re-establishment of satisfactory credit for a minimum of 12 months.
0 votes
Tom Bashe, Agent, Temecula, CA
Mon Jan 27, 2014
Hi Chris

I know New American Funding does financing 2 years out of a short sale if you take classes for 30 days. Best of luck, Tom Bashe. 951.491.5052
0 votes
Brad Yzermans, Mortgage Broker Or Lender, Murrieta, CA
Wed Dec 4, 2013
Here is a summary of FHA's new Back to Work program to help borrowers qualify sooner after short sale, foreclosure, or bankruptcy if they had an acceptable economic event that caused the incident.

Review this ==> http://homeloanartist.com/2013/08/fha-economic-event-extenua…

This program has a lot of hoops to jump through but it can be done if they meet the guidelines FHA announced.
0 votes
Roy Bush, Both Buyer And Seller, Phoenix, AZ
Sun Jul 28, 2013
CFS Mortgage, http://www.cfsflex.com, has a flexible loan program. They allow a mortgage after a foreclosure, short sale, or chapter 7 bankruptcy. There is only a six month waiting period. This is perfect for individuals looking to become homeowners again.
0 votes
Julie Horvath, Mortgage Broker Or Lender, Blacklick, OH
Thu May 2, 2013
Hi Chris,
I would be happy to try to assist you with your home purchasing needs. We have several programs at Northpointe designed to help buyers obtain financing after a short sale. Give me a call at your convenience.

Julie A. Horvath
Northpointe Bank
Area Manager
555 Metro Place North, Suite 320
Dublin, OH 43017
NMLS ID: 563029
866.901.3570 phone
740.602.3320 mobile
866.901.3571 fax
0 votes
Brad Yzermans, Mortgage Broker Or Lender, Murrieta, CA
Thu May 2, 2013
I've gotten several FHA buyers approved to buy again 2 years after they have done a distressed short sale with 3.5% down payment due to extenuating circumstances.

Just last week I closed a 'boomerang' VA buyer 14 months after they did their short sale.

See the web reference link below for more details on allowable extenuating circumstances.
0 votes
George Raymo…, Mortgage Broker Or Lender, Fort Worth, TX
Sun Feb 17, 2013
Hello Chris,

Check out my profile and you will see I have helped many people who have had a previous short sale. Depending on what's your time frame it could be sooner than you think. I would be happy to guide you through the process, whether you need credit counseling or just the road map getting yours ducks in a row. I work with some the leading Realtors in the area, most of which know me for my knowledge and experience and specifically dealing with the post short sale buyer. Read my blog below and feel free to contact me if you have any additional questions. Also, check out my Recommendations, you will find many buyers that I have (against all odds)helped get back into home after a short sale.

Take care,

Web Reference:  http://www.AFN-loans.com
0 votes
Kevin and Ju…, Agent, Wildomar, CA
Sun Feb 17, 2013
Hi Chris - I assume you are looking for one of your clients - Contact me and I will get you in touch with local mortgage pros who will help you find the right program.

Kevin McLaughlin, Broker Owner
Berkshire West Realty
Murrieta, CA
0 votes
Daniel Will…, Agent, Temecula, CA
Wed Feb 13, 2013
What is your price range?

Which city are you looking to purchase in?

RE Broker 01192011
0 votes
Valli Lopez, Agent, San Diego, CA
Wed Feb 13, 2013
Hi Chris,
I am a broker and can do the loan FHA or conventional 5% down no MI, so long as they haven't had lates for 2 years. I am confident with this since I just closed a loan with that same scenario in November.

Call me.
619.916.9595 cell
Web Reference:  http://Www.valliLopez.com
0 votes
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