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Answers (3)
- Justin Sheftell, "Courtesy Mortgage"
- Contributions:3369
If the short sale included you being in default on your loan at the time (they almost always do), then the advice given already is completely on target. If you somehow managed to complete your short sale without a default, then one year seasoning from mortgage lates plus 20% down payment could allow for conventional financing.
- Wayne Brown, "SDMortgagefinder"
- Contributions:1433
adnil19
San Diego has been hit pretty hard and continues to struggle with many Short Sales and REO's. Andrew and I have known each other for three years now...he offers good advice.
Unless you had a larger down payment which might get you Hard Money.....not the prettiest terms.
You might benefit from taking the next year to build up your funds, and be eligible for better financing. You might also see even better prices as unfortunately San Diego has taken a big hit, and looks to continue for the near future.
Contact a good mortgage broker in your area. Many will counsel you for free if you inquire.
Merry Christmas
San Diego has been hit pretty hard and continues to struggle with many Short Sales and REO's. Andrew and I have known each other for three years now...he offers good advice.
Unless you had a larger down payment which might get you Hard Money.....not the prettiest terms.
You might benefit from taking the next year to build up your funds, and be eligible for better financing. You might also see even better prices as unfortunately San Diego has taken a big hit, and looks to continue for the near future.
Contact a good mortgage broker in your area. Many will counsel you for free if you inquire.
Merry Christmas
- Andrew Adams, "203K Specialist"
- Contributions:9349
FHA will be your only option and you will likely need to wait an additional year.
I had a short sale over 1 year ago. Will I be able to get a mortgage w/over 20% down?
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