Profile picture for paches218

HELP! How long before we can purchase another house After a short sale of our home?....

Hello, anything new? it will be 2yrs in April 14, 2014 since we sold our home short sale, but is it still the 3yr. wait to purchase. Looking maybe renting a home. Do you know of any? or do you know anything about rent with option to buy? Please .
Thank you! And Have A Bless Day!
How long before we can purchase another house After a short sale of our home
?....thank you for any info:
  • October 07 2013 - US
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Answers (2)

Profile picture for Brookstone Mortgage
I answered this question on this thread. Please refer to that answer for accurate information. 
  • October 08 2013
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Different lenders have different guidelines.  A general rule of thumb is 3years after a foreclosure and some lenders look at short sales as the equivalent of a foreclosure.  I would suggest talking to a local credit union first or a local financial institution that 'shelves' their loans instead of selling them on the secondary market.  If your income and credit have been strong since your short sale, there's a very high probability you can find financing.
  • October 08 2013
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