RD loan after a short sale?

It is unfortunate that you were misinformed. Had the rep, who spoke to you done sowith proper knowledge they would have told you the house still had to be foreclosed on...or as you found it...it was still possible to get a short sale. Actually,we have desirable loans available available two years after a short sale. I would be glad to make relevant the bankruptcy and the justification for what happened as part of our mortgage bank's back to work program. You can accessme by phone or email via www.graylending.com or thru my profile. I have gottenmany loans alot banks could not do funded.

The other thing I should have mentioned is we do a loan one day after a short saleif you can show no late payments 12 months prior to the short sale. That would be the simplest for us to do!

If there were no late payments on the property that you short sold, then there is an FHA loan product that will allow you to purchase right away, but understand there's no guarantee with this loan product, and the guidelines are very strict.. There's also FHA's back to work program which requires you wait at least 12 months, but same strict guidelines.. it's best to talk to a local mortgage broker and not the corner bank.. typically bank employees are not experienced in dealing with complex loan scenarios like the broker is, plus the broker has a vast network of different lenders, each offering a different menu of loan programs.. more lenders means more options.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

USDA Rural Development programs requires at least 3-years go by since the date the home was no longer in your name (sold) before you can get a RD loan. There is a less that 3-year extenuating circumstance possibility, but it is virtually impossible to get that exception. In MN, WI, and SD, visit www.MortgagesUnlimited.com/usda

Larry and William gave good answers previously, you could also look for a lender that has a "portfolio" mortgage program (usually smaller community banks) where they make their own rules - they may be more flexible but will likely require 10-20% downpayment. Good luck!

Josh and Valerie,We can help you obtain a purchase regardless of the short sale we have a specialty program that will allow you to get into a home today with zero seasoning on your shortsale, bankruptcy, and or foreclosure. Contact me and I can explain our program in detail.