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Had short sale 2 years ago, which lenders do not have an overlay?

Running into a three year overlay by lenders over FM 2 year guideline.  What about Home Path...any different underwriting requirements for short sale and down payment?

Thank you.
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April 03 2013 - Highlands Ranch
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Answers (9)

Hi Ed,

No overlays here... In fact we have an exclusive loan program that allows you to buy again just one day after Short-Sale or Foreclosure..

It's our most popular loan and we are closing them constantly!
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January 08
I don't think Homepath will work for you, but the Back to Work program that just got passed in August significantly lowers requirements to purchase after short sales and foreclosures. Ask your local mortgage broker to help you look into that.
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December 18 2013
Go talk to FirstBank on University Blvd. They have flexibility with their in-house loans.
For a good laugh, mention my name.......they are great bankers.
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December 16 2013
I think this could be done.  There is a new program with FHA called The Back To Work Program which you may qualify for.  In addition, with your score being around 700 it would be good in respect to compensating factors.  Please feel free to reach out to me with any questions or concerns.  Thanks and have a great day!
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December 13 2013
Fannie Mae has the 80% max with 2 years since DIL of foreclosure or preforeclosure sale.  No exceptions for HomePath program sorry,  If you have the 20% down and would like to explore your options I'd be happy to help just shoot me a message.
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April 05 2013
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I have 3 Credit cards, never missed a payment on them. Longest card is 14 years and all cards have a low balance.  Have one auto loan that is just under one year old, I am using it to better my FICO score. Guessing FICO is around 700.  The short sale did involve 120 day late payment.

Would prefer 10% down.

What about Home Path?

Thank you in advance for your help.
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April 04 2013
Have you maintained multiple other credit lines post short sale? What is your credit score now?
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April 04 2013
Yes we have programs 2 years out with 20% down.  If there were no late payments on the short sale we can finance you 1 day out of the short sale.  Let me know if I can help further.  My contact info is on my profile.
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April 04 2013
Do you have 20% down? I have one in process right now. Please visit my profile if you would like to discuss.
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April 04 2013
 
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