Zillow Advice: Mortgage - Lending after Short Sale (18 months) http://www.zillow.com/advice-thread/Lending-after-Short-Sale-18-months/420124/ Zillow Advice | Zillow Real Estate Your probably going to better ... http://www.zillow.com/advice-thread/Lending-after-Short-Sale-18-months/420124/ Your probably going to better off waiting another 18-months when more options will be available to you.&nbsp; What is the rush to buy? Fri, 04 Nov 2011 20:21:00 GMT http://www.zillow.com/advice-thread/Lending-after-Short-Sale-18-months/420124/ 2011-11-04T20:21:00Z It's definitely very difficult ... http://www.zillow.com/advice-thread/Lending-after-Short-Sale-18-months/420124/ It's definitely very difficult to obtain financing after a short sale with late payments.&nbsp; If there are no late payments and a good explanation you can get a FHA loan right away.&nbsp; I've done it personally and I have a client who's in the process of closing her short sale and buying a new house right now.&nbsp; Unfortunately, when the payments go late, that opportunity is gone.&nbsp; You may be able to go FHA after 24 months in you have a good explanation and good credit.&nbsp; It sounds like you will be able to do that in a few months.&nbsp; The only other financing I've heard about in your situation is a hard money loan but that typically requires a large down payment and a high interest rate.&nbsp; Hard money is private investor loans and there seems to be quite a bit of that available right now.&nbsp; Normally they will want at least 30% down and probably around 12-14% interest with a balloon down the road. Fri, 21 Oct 2011 18:33:00 GMT http://www.zillow.com/advice-thread/Lending-after-Short-Sale-18-months/420124/ 2011-10-21T18:33:00Z Your best bet is to talk ... http://www.zillow.com/advice-thread/Lending-after-Short-Sale-18-months/420124/ Your best bet is to talk to an excellent mortgage broker, send me a quick e-mail if you would like a referral.<br/><br/>All the best,<br/>Jeff Fri, 21 Oct 2011 18:23:00 GMT http://www.zillow.com/advice-thread/Lending-after-Short-Sale-18-months/420124/ 2011-10-21T18:23:00Z Which bank is that Fred? ... http://www.zillow.com/advice-thread/Lending-after-Short-Sale-18-months/420124/ Which bank is that Fred? Is it a secret? Fri, 21 Oct 2011 17:58:00 GMT http://www.zillow.com/advice-thread/Lending-after-Short-Sale-18-months/420124/ 2011-10-21T17:58:00Z In CA, there is a bank that ... http://www.zillow.com/advice-thread/Lending-after-Short-Sale-18-months/420124/ In CA, there is a bank that will do 18 months with an excellent explanation.<br/><br/>For example, you must have had a serious medical condition, unfixable job loss, etc.<br/><br/>If that's the case, then it may be able to be done with 20% down. Fri, 21 Oct 2011 17:55:00 GMT http://www.zillow.com/advice-thread/Lending-after-Short-Sale-18-months/420124/ 2011-10-21T17:55:00Z The answer Justin gave you ... http://www.zillow.com/advice-thread/Lending-after-Short-Sale-18-months/420124/ The answer Justin gave you in the buying section was the correct one. You may get a different answer here, but that won't help if it's not a correct one.&nbsp; Fri, 21 Oct 2011 17:34:00 GMT http://www.zillow.com/advice-thread/Lending-after-Short-Sale-18-months/420124/ 2011-10-21T17:34:00Z Fannie Mae (Conventional) ... http://www.zillow.com/advice-thread/Lending-after-Short-Sale-18-months/420124/ Fannie Mae (Conventional) loans guidelines suggest 2 years wait if you can put down 20% and FHA guidelines require 3 year wait if you missed your payments, which looks like you did. There are concessions per guidelines for "extenuating circumstances", but in my experience I haven't come across any lender who would accept that. You can certainly try, but it's not going to be easy. Fri, 21 Oct 2011 17:29:00 GMT http://www.zillow.com/advice-thread/Lending-after-Short-Sale-18-months/420124/ 2011-10-21T17:29:00Z