Buying after short sale

You actually cannot get a loan with a bank that sells directly to Fannie Mae or Freddie Mac unless you are at minimum 4 years removed from a short sale. And that is with 10% down payment requirements. You need 20% down if you are 2 years removed. The only thing I would suggest is walking into your local credit union because 9 times out of 10, they keep and service the loans they make and may or may not have the same rules. Our office is in Indiana, but we are licensed in Florida if you would like our help. Otherwise, go down to your local credit union and make the same inquiry. Chances are their lending standards are just enough to go in your favor.

Hello, there are many alternative and creative ways to finance a home. You can consider a lease with an option to buy. This way you can lock in your purchase price today with your option contract and when you are ready to own, you can proceed to purchase the home when you are ready. Another option you have is a wrap around mortgage, this is where a seller may have a mortgage on their home but wishes to sell. what the seller can do is contact a local title company and have them write a mortgage that will wrap around the seller's current mortgage and then the seller then becomes your lender. Then when you are ready, you can refinance with a banking institution. The last suggestion, and this is the most expensive, but it is a viable solution for the short term is to consider hard money loans. These loans are at high interest and your down payment must be approximately 30-40 down, but you can get these loans with bad credit or even no credit. If you would like to talk about these options and others, please feel free to call me at 407-75-0341. I have offices in Miami and Orlando and I am currently in Miami. So if you would like to meet, I believe you are about 45 minutes away from Miami and we can meet somewhere in between. Have a great day and understand, going to a bank is not always the only answer :-)

You may have options, but I would need some more details. I'm happy to help with the financing or just give you advice. If you need more information, or a competing rate quote call, email or use my live support button to discuss or get in touch with me. Web Address for live chat or quote is: http://www.loansfromrob.com/quote/ Email is robertlh66@verizon.net and direct phone is 240-752-7549. Good Luck -- Rob Hanson