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Need Help...

Need Help...
I have done a short sale on my home in April 2010 in california and also I did stop payment for 8 months to get the lender approved for short sale.
Now I moved to Seattle, Washington and I wanted to buy a home. I was never late on any payments other than my house payments for 8 months. currently I have a credit score of 700. I am in continous employment with 135K annual salary. I do think I can make 30 to 40% down payment.

What is the possiblity of getting a loan to buy a house?

  • January 03 2013 - Bellevue
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Answers (13)

Currently credit guidelines are 3 years for an FHA loan and 2 years for a conventional loan. Some portfolio lenders will consider less than 2 years on a case-by-case basis. 
  • May 07 2013
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I gave you a recommendation below but it got removed. If you haven't found a lender yet, please contact me and I'll give you my recommendation. She's great.
  • January 17 2013
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Profile picture for tricia v
Have you contacted a local real estate agent?  They may have connections with a local lender that will overlook your short sale.  Portfolio lenders do not have to obey the Freddie Mac and Fannie Mae guidelines.  You may have better luck finding a local portfolio lender.  A good agent should have a recommendation for you, or check with local credit unions that would keep your loan in house and not sell if after you close.
  • January 17 2013
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and Wayne, you dont know what you dont know. My guy can get most anything off of credit reports. There is one bank that he cant get SS or foreclosure off of one credit reporting co.
  • January 17 2013
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Try your local credit union. Some of them have been working with people like you.

  • January 17 2013
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[content removed by Zillow due to spam.  Please refer to our Good Neighbor Policy for details.]
  • January 17 2013
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Jesse - I thought the Guido Brothers were forced out of the credit repair business in ' 07 which is about the last time I heard your type of advice..
Justin gave the best answer.
  • January 05 2013
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Profile picture for Go Huskers
"I have a few credit repair guys that can take anything off and then we could get creative untill you are able to buy."
----
"Anything?"
"Get creative?"

Sounds like code for scumbaggery.
  • January 04 2013
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We ( Eagle ) handle loans in bellevue and the seatle  are  all the time
  • January 04 2013
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Profile picture for user3630334
Can someone please suggest a good loan officer in Bellevue, WA area?
  • January 04 2013
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should be fine...find a local loan officer and  per pre approved to be certain
 
  • January 03 2013
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20% down and 2 years after short sale you are eligible for Fannie Mae financing.    You can apply now.    As long as your credit report is accurate the facts you indicate, your possibility of getting a loan is quite strong.  
  • January 03 2013
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I know I could help you out if you wanted a home here in Las Vegas. I have a few credit repair guys that can take anything off and then we could get creative untill you are able to buy.
  • January 03 2013
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