Mortgage after a short Sale? Is there any loop holes

Profile picture for frypie
We sold our home on a short sale in December 2009?  I have been told that we have to wait 2-3 years before we qualify for a mortgage?  Is there any work around for this?
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January 08 2011 - Davison
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Answers (5)

Profile picture for FNBank
We can issue loans to consumers after a short sale.  Click on my name above for my information. 
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February 04 2011
Profile picture for LUXURY HOME LOANS CA
frypie that's true, if you stopped making payments. Otherwise it's as wetdawgs said.

Happy funding, Rudi
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January 08 2011
Profile picture for onegodholly
contact a tax advisor or an attorney..that's the best way to protect yourself
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January 08 2011
There is a 98 per cent chance that you really did not sell your home in 09.  You were scammed by the wrong lender into believing they owned the mortgage and they did not.  That means that the actually lender can still come after you for the balance of the note.
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January 08 2011
Profile picture for wetdawgs
If you had no late payments for the 12 months preceeding the short sale on both the mortgage and other installment debts, you may be eligible for an FHA loan.  If you did have any lates, then the whole picture changes.
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January 08 2011
 

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QuestionMortgage after a short Sale? Is there any loop holes
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