enterprise: Can I Purchase After a Short Sale in Alabama?
- 08/06/11 06:11 AM
Can I purchase after a short sale in Alabama? That is a common question on the minds of many Alabama sellers in today’s market. The answer is, possibly. In December 2009, HUD announced guidelines under which a seller who has completed a short sale can buy a new home utilizing FHA financing. Short Sales According to FHA underwriting guideline, borrowers are not eligible for a new FHA loan if · They pursued a short sale on their principal residence simply to take advantage of declining market conditions, and purchase, at a reduced price, a similar or superior property (1 comments)