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I sold my house short sale on april.

I sold my house short sale on april.If i put down 30% can i get loan 200k? my credit score about 630
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June 14 2012 - Gardena
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Why not use the time to regroup and not jump from the frying pan into the fire.Many past sellers still do not know the affects of the short sale on their life until years from now.I am NOT talking about your credit and the scores..I am talking about the collection agencies coming out of the wood work just when you think the dust has settled.
I know,many tell me,we have a waiver of deficiency,only I did not say the BANK would puruse you.I know there are collection agencies BUYING the files and WAITING,until you have assets,have money and when you least expect it..they call.
They may or may not be able to get anything..only be prepared.

I see lawyer ads NOT telling owners who short sold a few years back,are they getting harrassed,did their agent do all they could to get them the most money??

We have yet to see what is down the road.

Why not sit tight,save more money,improve your scores and go from there?

If you disclosed you had 60,000 your past bank did not just ignore that info..they know you have some cash.

If they did NOT know you had it,after you put 60,000 down ,they will know it.
They let you sell your home as you told them you had a financial distress and gave them reasons why you needed out of the obligation you signed with them.

Take it slow,and be cautious.Use the time to build up your credit score,get investing adivce on where the money is best protected and see what the future holds.

There is alot of unknowns about what we have just gone through,and what is coming next. NONE of us know or can say with complete certainty, the creative ideas that will be cropping up against the sellers that short sold... and have cash or assets...

If you have nothing ,they cannot get blood from a stone.

Best wishes and best of luck.
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June 15 2012
Yes, you can dispute your negative credit yourself.  You also can change your own oil, cook your own meals, or even teach yourself a new language.  But some people either don't have the time, or the patience to do these things, and they hire someone to do them.

That's great Cindy that you raised your scores 130 points in a few months.  That is a testament to the fact of what is possible, whether you attempt on your own or hire a company to help.

To find a "legitimate" credit repair company, just do your research and ask a lot of questions before you hire anyone.  Are they licensed and bonded, what is their dispute process, do they have any testimonials, etc...
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June 15 2012
Anything a credit repair company can do for you, YOU CAN DO YOURSELF! It would be easier to learn how to fix your own credit than to actually find a legit credit repair company.

I realize your real issue is the short sale, but just FYI, I raised our scores 130 points in a few months from reading and asking questions at www.myfico.com.
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June 15 2012
Lexington Law is probably the worst, slowest, "credit repair" company.  I'd recommend doing a search for "Lexington Law complaints".

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June 15 2012
Yes you can if you reached 680. Not a problem but need FULL DOC and you need to get on credit repair with [website removed by Zillow moderator]
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June 15 2012
I'd recommend strengthening your credit score also.  For great tips on raising your credit score, read some of my blog posts* improving your credit scores.
*(hot links deleted by Zillow moderator. Please see our Good Neighbor Policy for more information)
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June 14 2012
Profile picture for B Mike West
Depending on the lender, you will have to wait two or three years before you can be approved for a loan.  Make sure you keep your credit in good shape during that period.
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June 14 2012
I suggest that you talk to loan officers at two local banks.  That is your best opportunity to find out.
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June 14 2012
 
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