short sale waiting period

Asked by Marilyn Cali, Mount Prospect, IL Mon Oct 29, 2012

Had to short sell our house as husband lost job 5 years ago, finally sold in december 2010. were told there was 2-year waiting period, and now it has changed to 3-year. My husband will be eligible for pension next year, 3 months before the 3-year period. Is there any way we could be eligible for mortgage sooner, considering this "guaranteed" income, as opposed to just having a job which we could lose tomorrow?

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Sandie Mitch…, Agent, Arlington Heights, IL
Thu Sep 26, 2013
Hello Marilyn. It typically is at least a three year waiting period; however, you should contact a lender to discuss your personal situation. I have a list of preferred lenders. Please contact me so I can help you.
Web Reference:  http://sandiemitchell.com
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Andrew Wilki…, , San Francisco, CA
Thu Nov 1, 2012
Hi there Marilyn,

I'm sorry to hear about your and your husband's recent setbacks. Unfortunately, I can't answer your question for you, but I can help direct your question to the right place.

Because you question is not necessarily geographically specific, I'd recommend that you repost your question in our Chicago section so that more eyes and more experts will see your question and give you the answer you're looking for.

I'd also recommend rephrasing the first part of your post as a question, for example: "Can we speed up our mortgage eligibility?" And then go into more details in the second box, just as you did here.

To get to the Chicago section and repost your question, you can click on this link: http://www.trulia.com/voices/qa/popular/Chicago---9158

Good luck and I wish you and your husband well in your search,

Andrew
Community Manager
Trulia Voices
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