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Chp 7, home was incl but we pd mtg for 2 yrs then got transferred so we short sold. When can we buy?

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September 08 2012 - Orlando
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Answers (5)

My experience has been 3 years after the short sale or bankruptcy, whichever was later, you can obtain FHA financing. If you need to speak with a lender contact me via my Zillow Profile and I would be happy to introduce you to my preferred lender.
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November 27 2012

Any late payments?

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October 04 2012
Both answers below are correct in most cases but there is depending on the flexibility of your search area an option.

The USDA loan program has no real seasoning but a case by case review so if your short sale was for legit reasons and you have the ability to pay a mortgage you may qualify.

But then there's the chapter 7 and throwing that into the mix could bring in a timeline depending on it's seasoning period that also differs from loan to loan.

Best to pose these scenario's to a mortgage broker, [deleted by Zillow moderator]

hope this helps,
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September 09 2012
Contact a local lender for a free pre-approval.  They can usually give you a month and year that you'll be able to qualify again.  Takes all the guesswork out for you.  Good luck!

Jeff Metcalf, REALTOR(R)
Watson Realty Corp.
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September 09 2012
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Assuming you need a mortgage, usually 2 to 3 years after the short sale depending on the type of loan desired.  
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September 08 2012
 
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