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Purchasing a Primary Residence After Short Selling Rental Property?

We did a short sale on a rental property a year ago and just sold our primary residence in August. We want to get back into a house as soon as possible and have 20% we can put down. We are being told that we have to wait the two years because of the short sale. Is this the case even if it wasn't our primary residence we short sold? I can't find anything that talks about mortgages on a primary residence after short selling a rental property.
  • October 19 2012 - Las Vegas
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Answers (2)

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  • November 15 2013
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There are programs that allow you to buy immediately after a short sale but I believe the condition is that you were not late with payments.  ie strategic short sale to get out of an upside down asset, to move into a more affordable asset in today's market.

Cheers
  • October 19 2012
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