Buy Again After a Short Sale or Foreclosure
Buy again after a short sale or foreclosure depends on many factors. Factors may include:
- Current FICO Score
- How much money you have available for a down payment
- How many years you are past your short sale or foreclosure
- Your current employment situation
Every Situation is unique, for example:
- If you have a 30% down payment you may be able to purchase the day after you close your short sale
- If you have less than 5% for a down payment you may will more than likely qualify for an FHA loan after your foreclosure or short sale
What we do:
- Create a custom “Prescription” for you and your unique situation
- Put our team to work advising you on credit, debt & creating goals to get you back into home ownership.
VISIT: HomeProgram101.com
Owners who have had a foreclosure 2 years ago just got approved to buy a new home. According to their site http://www.cfsflex.com you can qualify one day after a foreclosure.
ReplyDeleteThey have a program called Flexible Credit Loan which seemed too good to be true, but I have heard that many got approved and now have a pending offer, even after the short sale less than two years ago. Big banks said it could not be done.
Obviously it can.