Profile picture for user3719377

When does the 3 year waiting period start after a short sale for FHA laon with deliquency

My short sale will be seasoned 3 years in 4/2013. my question is, is it 3 years from the date of that the the deed of trust was recorded or is it 3 years from the date of the reconveyence, ther is a 17 day difference,  What is the soonest date that i can close on a new property.  the new deed of trust after the shortsale recorded on 4/30/10, the reconveyance recorded on 5/17/10.
  • February 03 2013 - Redlands
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (6)

Best Answer

For FHA loans it is the transaction date, or the date the deed was recorded with the county.

UNLESS the short sold home had FHA financing on it. In that case the clock doesn't start ticking until the date that the claim is paid to the lender. Most people did not have FHA loans in the 2000's, at least until 08-09, so this doesn't apply to many, but it is something many people leave out when answering this question. 

Hope this information helps you.

Sincerely,
Greg

Mortgage Advisor - 16 Years Experience
Partners Mortgage
  • February 04 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Sorry I cannot answer that one. I would check with lender for exact date.
  • February 04 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Her blogspot, dated/updates Tuesday, January 29, 2013 (as noted on the site) has obsolete UFMIP and MMI premiums. I'd be very hesitant to put my faith in an agent that starts out the relationship by lying.
  • February 04 2013
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Go Huskers
Please ignore Gail's blog as it is not correct. You should ignore information given by agents regarding mortgage qualification and defer to an actual NMLS licensed loan officer. 

Also, Gail seems to be on a SPAM mission rather than an information mission.
  • February 04 2013
  • 2Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

3 years for short sale and foreclosure. Requirement change so check with lender for verification. Attached my [Promotion and website removed by Zillow moderator. Please see our Good Neighbor Policy.] Hope helpful. Gail 
  • February 03 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

The waiting period is 3 years for short sale or foreclosure with FHA. Attached is my [Promotion removed by Zillow moderator. Please see our Good Neighbor Policy.] Hope information is helpful. Guide lines change verify information with a direct lender.
Gail - Realtor
  • February 03 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.