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We sold a house on a short sale October 2010. We tried to refi--no one would talk to us as we were

  • February 17 2012 - Clearwater
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If you were delinquent prior to your short sale, the soonest you could refinance would be November 2012 if you loan to value is <=80%.
  • February 17 2012
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How can you be up to date 12 months prior to the short sale when the banks would not even consider a short sale unless you stopped making payments on your mortgage--which is what we had to do. 

  • February 21 2012
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When financing with an FHA insured loan, lenders are requiring a 3 year waiting period.  They will allow less if you meet certain conditions, and the main condition is that you had to be current with your mortgage at the time of the short sale with no 30 day late payments the 12 months prior to the short sale.

Conventional lenders generally will allow you back in the market after 4 years unless you had circumstances out of your control which caused you to fall behind and have to sell, then they will allow you back after a 2 year waiting period.

  • February 17 2012
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