Last November I wrote a post entitled Buying 3 Months After You Sell Your Home in a Short Sale. It was a real winner, at least in my eyes, but it also made it's way to the top of my blog scroll with the gold star. The cliff note version of the post was that you can buy after a short sale. However, there are......
TWO CRITICAL CAVEATS!!!!!
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The bank can't be reporting a deficiency and;
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The borrower can't have any 30 day lates reporting either.
Well since then, this post has been seen umpteen bazillion times it seems. I was just contacted by a superstar realtor who referred me another client who had the same issue. Short sale, but a new purchase. Why? Husband dies and a lot of income is out the window. Widow hasn't missed a payment, but will sell the house short and buy a new, smaller home, that she can afford.
Further, I've been contacted a number of other times by consumers who want the same result. I'll say that I've only been able to help one. Most don't meet the criteria that I've listed. So what? I've got the goods, Active Rain has been complicit with me disseminating knowledge and power out to Joe Q. Homebuyer. Can I use a phrase by Tim McGraw? Photo provided by http://www.dreamstime.com/free-stock-photo-house-on-the-hill-rimagefree1284525-resi2857788
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