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Answers (1)

- Justin Sheftell, "Courtesy Mortgage"
- Contributions:3421
For Conventional (Fannie Mae) loan, two years must have elapsed from the completion of the short sale (recording date) and minimum 20% down payment is required.
Your loan application must be dated at least 2 years and 1 day after the recorded date, as long as your meet that criteria and have 20% down, you should be OK.
Sometimes credit bureaus don't code the short sales correctly which can "mess up" the automated system. In your case, you have stated that you did get the approve/eligible finding, so that is a wonderful start for you.
Your loan application must be dated at least 2 years and 1 day after the recorded date, as long as your meet that criteria and have 20% down, you should be OK.
Sometimes credit bureaus don't code the short sales correctly which can "mess up" the automated system. In your case, you have stated that you did get the approve/eligible finding, so that is a wonderful start for you.





Buying after short sale
Long story short, I do not want to go so far down this path only to find out that I cannot be approved. Should I try another bank? Any suggestions are welcome.
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