Sentences with phrase «after foreclosure or a short sale»

The waiting period had been two years after the completion of a bankruptcy and three years after a foreclosure or a short sale.

There are quite a few variables involved when trying to figure out when someone will be able to purchase a home after a foreclosure or short sale.

These rules also apply to deficiencies after a foreclosure or short sale.

There are quite a few variables involved when trying to figure out when someone will be able to purchase a home after a foreclosure or short sale.

The FHA says it doesn't have data on how many of the loans it insures involve people who are buying homes after a foreclosure or short sale.

You should know that in some states banks have the right after foreclosure or a short sale to pursue their borrowers for more money.

Fannie Mae and Freddie Mac require a much longer wait than FHA to qualify for a loan after a foreclosure or short sale, up to seven years.

Not exact matches

Borrowers who wish to qualify for an FHA - insured mortgage after a foreclosure, short sale or bankruptcy in 2014 should refer to Mortgagee Letter 2013 - 26 for more information.

NO waiting period after a foreclosure for an FHA Loan if you had NO late payments on ANY mortgage or consumer debt in the 12 - months proceeding the short - sale AND it was NOT a strategic short sale.

Applicants who meet these criteria could qualify for an FHA loan in as little as 12 months after bankruptcy, short sale, foreclosure, or deed in lieu of foreclosure.

Borrowers who wish to use an FHA loan after a foreclosure, deed in lieu, short sale or bankruptcy in 2014 must be able to demonstrate Satisfactory Credit after the Economic Event (loss of job / income).

In 2014, borrowers who wish to qualify for an FHA loan after bankruptcy, foreclosure, short sale, deed in lieu of foreclosure, or other derogatory events must reestablish Satisfactory Credit for at least 12 months.

«After someone goes through a short sale or a foreclosure, they may feel guilty or upset about it, but I tell them: «Now is day one.

Does anyone have experience getting a mortgage after bankruptcy and / or a foreclosure or short sale process?

To that end, FHA is changing the rules for borrowers who want to use an FHA loan after a bankruptcy, short sale, foreclosure, or deed in lieu of foreclosure.

The waiting period after a bankruptcy, short sale or foreclosure can be as little as 12 months.

Myth # 9: The lender will sue the homeowner after the close of a short sale (or foreclosure, or deed in lieu of foreclosure) for the deficiency.

New FHA guidelines announced August 15, 2013, in Mortgagee Letter 2013 - 26 say that borrowers who meet certain criteria and qualify for a loan under FHA requirements will be able to apply for an FHA loan without the usual mandatory waiting period after a foreclosure, short sale or bankruptcy.

I introduced a loan program at http://www.cfsflex.com, they allow a mortgage after a foreclosure, short sale, or bankruptcy.

For homeowners who had extenuating circumstances such as prolonged income loss or major medical expenses, Fannie Mae has shortened its waiting periods to two years after a pre-foreclosure sale — a short sale or deed in lieu of foreclosure — and to three years after a foreclosure.

It is never a smart decision to go for a mortgage loan immediately after you have faced a foreclosure, short sale or bankruptcy.

All homeowners with FHA case numbers assigned after Aug. 25th of 2013 that have gone through a bankruptcy, short sale, foreclosure, loan mod or a deed - in - lieu can now apply and potentially get approved for an FHA mortgage.

George as a general rule they would be talking about after the closing on the short sale or foreclosure.

One of the most important steps after going through either a short sale or foreclosure is to be conscious about trying to improve your credit standing.

The question of when a borrower can get another loan after a short sale or foreclosure is one I hear quite often.

You can never start planning too early after going through a foreclosure or short sale.

Hi Sandra — Yes I do not believe any of this short sale time lines have changed about getting a mortgage after a short sale or foreclosure since the article was published.

Thanks for the great information about buying a home after short sale or foreclosure.

Below are the general guidelines that FHA, Fannie Mae and Freddie Mac follow when considering a loan after a short sale or foreclosure:

About the author: The above Real Estate information on buying a home after short sale or foreclosure was provided by Bill Gassett, a Nationally recognized leader in his field.

Getting a mortgage after a short sale or foreclosure is one of the most common questions I get.

If you can only put less than ten percent down, you'll have to wait seven years after the short sale or deed in lieu of foreclosure.

If you're looking to get a USDA loan after short sale or deed in lieu of foreclosure, you will typically need to wait 3 years from the date repayment and bankruptcy were completed.

If you're looking to get a VA loan after short sale or a deed in lieu of foreclosure, you will need to wait 2 years after the completion.

If you're looking to get a FHA loan after short sale or a deed in lieu of foreclosure, you will need to wait 3 years after the completion.

If you're looking to get a conventional loan after a short sale or a deed in lieu of foreclosure, the amount of time you have to wait depends on how much money the you are able to put down on the loan.

FHA home loans help first - time home buyers and lower income Americans purchase a home, and can still do exactly that even after a foreclosure, bankruptcy or short sale.

In the link provided below the general guidelines that FHA, Fannie Mae and Freddie Mac follow when considering a loan after a short sale or foreclosure are discussed.

Borrowers holding a portfolio of underwater investment properties will see their tax bill skyrocket in the event they successfully negotiate a short sale, deed in lieu of foreclosure or forgiveness of deficiency judgment after foreclosure.

Consumers can apply for loans with a maximum of $ 320,000, and they may apply immediately after their short sale, foreclosure or bankruptcy.

Elligible borrowers can purchase a home again only 1 year after a short sale or 2 years after a foreclosure

They must make big strides in boosting their credit scores after a foreclosure, short sale, or bankruptcy.

It's important to know not just the federal rules but what's going on in your state, Thompson says, because a variety of state statutes have been enacted to address foreclosure processing improprieties, taxation of mortgage debt forgiveness, and liability for deficiency balances after a short sale or foreclosure.

After bankruptcy, foreclosure, or short sale a borrow must re-establish credit in order to meet minimum Fannie Mae guidelines.

This was the federal law that allowed Florida home owners as well as home owners across the country to legally exclude from their income taxes any amount that was forgiven by the bank (on principal residences) after a mortgage loan modification, short sale, or from a foreclosure.

That often happened after the collateral was sold after a foreclosure, deed - in - lieu, or short sale, and write - downs were sometimes included as part of a mortgage modification as well.

This means if you had a foreclosure or short sale, you may qualify after your three year waiting period.

Getting a mortgage after a short sale or foreclosure is one of the most common questions I get.

You can never start planning too early after going through a foreclosure or short sale.

The question of when a borrower can get another loan after a short sale or foreclosure is one I hear quite often.