Answers (5)
- sunnyview
- Contributions:26844
I had read from the lenders on this board that it was 2 years as long as your credit score had recovered enough by then.
- OliveGrove
- Contributions:2
My credit statment states: "settled and account closed." I have three short sales on investment properties, the last being in 6/09. My lender is telling me it will take two years from the last sale. I have found info online that states the same. I'm just looking for some more info.
- Victor Gurrola, "Victor T. Gurrola"
- Contributions:1493
There are exceptions that could allow you to buy sooner, except its alot of work to petition fannie/freddie so in theory it could happen but its not very likely it will.
- Mortgage Market
- Contributions:150
Hi Olive,
My underwriting manual says 4 years. This applies to short sales, foreclosure, or deed in lieu of foreclosure. Hope this helps. Steve
My underwriting manual says 4 years. This applies to short sales, foreclosure, or deed in lieu of foreclosure. Hope this helps. Steve
- Paul Mondello, "Paul Mondello"
- Contributions:2392
That's a pretty solid credit score for going through a short sale just over a year ago. What does it say about the Short Sale on your credit report? (paid for less then agreed etc?)
I had a short sale in 6/09. My credit score is 700, how long before I can get a loan?
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