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What can I do to get more (or better) quotes for my loan request ZR-DKHCVML

Can I get approved for a loan after a short sale.  If so, when should I apply?
  • September 13 2012 - Waldorf
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Answers (2)

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Thank you for responding!
  • September 14 2012
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If you continued to make your payments on time through the sale, you may qualify with FHA for a new loan. 

Most lenders require 3 years after a short sale before they will consider a new loan approval, unless there are extenuating circumstances (e.g illness or death-divorce is not considered an extenuating circumstance)

If the short sale was recent and you have a "good reason" local banks, with good compensating circumstances  (assets, good job history, good payment history besides the mortgage) may be more forgiving.

Hope this helps.
Maryland Mortgage Mama

  • September 13 2012
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