JohannaFitchRoady's Advice

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JohannaFitchRoady wrote:

I had a short sale back in March 2010. I want to buy a house with an FHA loan.

Answer
Hi Jason,Thanks for the reply.  I did speak with a mortgage broker that looked into my credit report and saw no signs of preforeclosure (it was due to a divorce and there were a few months that payments were not made, but I never heard the word foreclosure mentioned.  I was in contact with the mortgage company the whole time).  But when the mortgage broker contacted a couple of underwriters they said I needed to wait the 3 years.  When I did some online searching I saw that it's possible to get a home loan after 2 years.  Maybe I need to talk to another mortgage broker or contact him again?
December 19 2011
(0)
I had a short sale back in March 2010. I want to buy a house with an FHA loan.
Do I have to wait 3 years before I can buy a house if I want to get an FHA loan?  The FHA loan only requires 3.5 down, but I was told I can't qualify yet.  What if I have a larger down payment like 5% down?
December 19 2011
(1)