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Buying a Home in Tennessee After a Short Sale
Who Can Buy A Home in Tennessee After a Short Sale
In most situations one must wait a number of years following a short sale of a home before they are eligible for a mortgage or home loan to purchas another home.

You May be Able to Purchase a Home in Tennessee After a Short Sale
While it is true that Conventional loan requirements would prevent one from buying a new home shortly after a short sale, FHA guidelines do make provision for those that fit some pretty specific criteria.  The exception by FHA would not apply to those that sold their home “simply to take advantage of declining market conditions, and purchase, at a reduced price, a similar or superior property within a reasonable commuting distance.”
However, if you sold your home in a short sale and are moving out of the area to a new location because your were relocated or moved to get a new or better job then you would not be disqualified under current FHA underwriting guidelines.
 
I just helped such a borrower.  He sold his home outwest with a short sale and moved to Tennessee because of his work.  He closed on the short ... more

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