Comments on: How Long Do I Have to Wait to Buy a House After a Short Sale? http://www.keaneloans.com/2009/12/22/how-long-do-i-have-to-wait-to-buy-a-house-after-a-short-sale/ Loan Officer Sun, 05 Sep 2010 13:27:32 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Keane http://www.keaneloans.com/2009/12/22/how-long-do-i-have-to-wait-to-buy-a-house-after-a-short-sale/comment-page-1/#comment-858 Keane Tue, 17 Aug 2010 08:41:12 +0000 http://www.keaneloans.com/?p=499#comment-858 Steve, If you were late on your short sale, it would affect your ability to refinance your primary residence. Lenders typically look at the payment history on all mortgages. Steve,

If you were late on your short sale, it would affect your ability to refinance your primary residence. Lenders typically look at the payment history on all mortgages.

]]> By: Steve http://www.keaneloans.com/2009/12/22/how-long-do-i-have-to-wait-to-buy-a-house-after-a-short-sale/comment-page-1/#comment-856 Steve Tue, 17 Aug 2010 00:59:50 +0000 http://www.keaneloans.com/?p=499#comment-856 I moved from wiosconsin to Tennesee, owned a home in both states. I had to short sale the home in Wisconsin while owning and livingin my home in Tennesse. I tried to refinance my Tenn home and the underwriter would not allow the refinance. Does the Fannie Mae Guidelines apply to refinancing your current residence? I moved from wiosconsin to Tennesee, owned a home in both states. I had to short sale the home in Wisconsin while owning and livingin my home in Tennesse. I tried to refinance my Tenn home and the underwriter would not allow the refinance. Does the Fannie Mae Guidelines apply to refinancing your current residence?

]]> By: Keane http://www.keaneloans.com/2009/12/22/how-long-do-i-have-to-wait-to-buy-a-house-after-a-short-sale/comment-page-1/#comment-771 Keane Wed, 04 Aug 2010 19:46:50 +0000 http://www.keaneloans.com/?p=499#comment-771 GMM, The only thing you can do is see if you can dispute that late payment and see if the old lender can provide proof you were late. If they can't, your dispute to the credit bureaus may get it removed. Did they not offer a deficiency option where you could carry the debt? GMM,

The only thing you can do is see if you can dispute that late payment and see if the old lender can provide proof you were late. If they can’t, your dispute to the credit bureaus may get it removed.

Did they not offer a deficiency option where you could carry the debt?

]]> By: GMM http://www.keaneloans.com/2009/12/22/how-long-do-i-have-to-wait-to-buy-a-house-after-a-short-sale/comment-page-1/#comment-770 GMM Wed, 04 Aug 2010 19:16:30 +0000 http://www.keaneloans.com/?p=499#comment-770 Hi Keane, My husband and I were transferred from Ohio and had to short sale our home a year ago. The problem I am running into is that we were never late on ANYTHING but a month before the SS went thru Citi told me I had to let my last payment go 30 days late or the SS would not go thru. I have an email string were I am basically begging my "Mortgage Counselor" to accept the last payment and she is writing back... "Do not pay your last payment" So I guess my question is... Will this email help me in any way? Hi Keane,
My husband and I were transferred from Ohio and had to short sale our home a year ago.

The problem I am running into is that we were never late on ANYTHING but a month before the SS went thru Citi told me I had to let my last payment go 30 days late or the SS would not go thru. I have an email string were I am basically begging my “Mortgage Counselor” to accept the last payment and she is writing back… “Do not pay your last payment”

So I guess my question is… Will this email help me in any way?

]]> By: Keane http://www.keaneloans.com/2009/12/22/how-long-do-i-have-to-wait-to-buy-a-house-after-a-short-sale/comment-page-1/#comment-624 Keane Mon, 19 Jul 2010 19:08:01 +0000 http://www.keaneloans.com/?p=499#comment-624 DJM, Your scenario is ideal for a FHA purchase after these new guidelines were released but you should know that not every FHA lender will follow them. If you seek a FHA lender who does not restrict this, you'll be able to buy now. Keane DJM,

Your scenario is ideal for a FHA purchase after these new guidelines were released but you should know that not every FHA lender will follow them. If you seek a FHA lender who does not restrict this, you’ll be able to buy now.

Keane

]]> By: DJM http://www.keaneloans.com/2009/12/22/how-long-do-i-have-to-wait-to-buy-a-house-after-a-short-sale/comment-page-1/#comment-623 DJM Mon, 19 Jul 2010 18:59:58 +0000 http://www.keaneloans.com/?p=499#comment-623 Thanks for the information. I had to short sale my home in NC a year ago when my job moved me to Ohio (and I was $50K upside down). Fortunately my mortgage was with a credit union and I did not have to go into default to get the short sale so we were never late on any payments. We are in a 2 yr lease on a house rental in Ohio and I contacted Wells Fargo just to start getting some information on mortgages and such as next June our lease is up and the loan rep said I had to wait 2 years to even apply for a mortgage. I gather from the postings here that may not be true (proceeds from the sale were used as payment in full). Thanks for the information. I had to short sale my home in NC a year ago when my job moved me to Ohio (and I was $50K upside down). Fortunately my mortgage was with a credit union and I did not have to go into default to get the short sale so we were never late on any payments. We are in a 2 yr lease on a house rental in Ohio and I contacted Wells Fargo just to start getting some information on mortgages and such as next June our lease is up and the loan rep said I had to wait 2 years to even apply for a mortgage. I gather from the postings here that may not be true (proceeds from the sale were used as payment in full).

]]> By: Keane http://www.keaneloans.com/2009/12/22/how-long-do-i-have-to-wait-to-buy-a-house-after-a-short-sale/comment-page-1/#comment-468 Keane Sun, 20 Jun 2010 11:47:10 +0000 http://www.keaneloans.com/?p=499#comment-468 Debbie, No problem :) Most of the visitors to my blog aren't in states I can serve, but this blog is for everybody. Let me know how it goes. Even if I can't help you, I can hopefully help you find someone. Keane Debbie,

No problem :) Most of the visitors to my blog aren’t in states I can serve, but this blog is for everybody. Let me know how it goes. Even if I can’t help you, I can hopefully help you find someone.

Keane

]]> By: Debbie http://www.keaneloans.com/2009/12/22/how-long-do-i-have-to-wait-to-buy-a-house-after-a-short-sale/comment-page-1/#comment-377 Debbie Sat, 15 May 2010 05:58:34 +0000 http://www.keaneloans.com/?p=499#comment-377 Keane, Thanks for the direction. If I don't find someone here myself, I'll definitely recruit your help :-) Keane, Thanks for the direction. If I don’t find someone here myself, I’ll definitely recruit your help :-)

]]> By: Keane http://www.keaneloans.com/2009/12/22/how-long-do-i-have-to-wait-to-buy-a-house-after-a-short-sale/comment-page-1/#comment-376 Keane Sat, 15 May 2010 05:52:11 +0000 http://www.keaneloans.com/?p=499#comment-376 Debbie, Based on your circumstances, you qualify. You shouldn't have a hard time finding a lender. If you do, please let me know and I'll help find one for you. I would recommend you talk to a direct FHA lender where the loan officer can talk to the underwriter directly before you shop to confirm you're okay. That's what I do when I have a scenario that needs some explaining. Keane Debbie,

Based on your circumstances, you qualify. You shouldn’t have a hard time finding a lender. If you do, please let me know and I’ll help find one for you. I would recommend you talk to a direct FHA lender where the loan officer can talk to the underwriter directly before you shop to confirm you’re okay. That’s what I do when I have a scenario that needs some explaining.

Keane

]]> By: Debbie http://www.keaneloans.com/2009/12/22/how-long-do-i-have-to-wait-to-buy-a-house-after-a-short-sale/comment-page-1/#comment-375 Debbie Sat, 15 May 2010 05:39:57 +0000 http://www.keaneloans.com/?p=499#comment-375 Does anyone know of a lender in Colorado or one that does loans for Colorado buyers that will do an FHA loan for a borrower that has done a short sale due to a divorce and wasn't late on her payments? Does anyone know of a lender in Colorado or one that does loans for Colorado buyers that will do an FHA loan for a borrower that has done a short sale due to a divorce and wasn’t late on her payments?

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