Profile picture for Ncho

Finding a realtor for purchase after short sale

I would like to purchase a home. I sold my previous home on a short sale almost 2 years ago. Is it possible to buy in the next year? How can I find a realtor willing to work with me?

Thanks,
  • December 04 2012 - Sunnyvale
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Answers (11)

Ken is correct. You may be able to get conventional financing at 2 years with 20% down depending on how many late payments you had with the short sale. Have you worked with anyone to see if they could get the approval from Fannie Mae?
  • January 17 2013
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Fannie Mae does allow 2 years after a short sale with 20% down to avoid the mortgage insurance.  I should be able to help you.
  • December 20 2012
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  • December 07 2012
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  • December 05 2012
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I would be mot happy to assist you with locating a REALTOR that would counsel you as you move forward. Just send an email request!
  • December 05 2012
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I would check with 2 mortgage companies first.  Some will give you a generic answer and therefore checking with 2 will give you a better insight on what steps to take next. 
  • December 05 2012
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One of the major factors that will determine if you can buy now is whether you were still current on your mortgage payments when your previous home was sold. If not, you will have a problem finding a lender to work with. So as others have advised, your first step should be to talk to a couple of mortgage specialists, ideally a broker should be one of them. Then if you need an introduction to a Realtor in Sunnyvale, I can refer you to an excellent one.

Good luck.
  • December 05 2012
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Profile picture for Ofe Polack
May I suggest that you talk with at least two mortgage brokers first to see if you can get a loan at this point, once you have been pre-approved then try to find a buyer agent.  Good luck!
  • December 05 2012
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Well put Johnny.
Yes you will have no problem getting the help of a Realtor, however, it may be harder to find a lender willing to work with you.
  • December 05 2012
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A realtor will not be the problem. The problem will be finding a lender willing to finance you.
  • December 04 2012
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Profile picture for wetdawgs
Before looking for an agent, you need to find a lender who will provide a pre-approval with your short sale history.  

Whether or not you can buy in the next year depends on a number of factors,  the amount of down payment you've saved up, your credit score, your debt to income ratio, whether or not you had late payments in the process of the short sale, your income and other factors.   Hence, review these with a lender so you don't have to share the personal details with the world. 
  • December 04 2012
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