Can I buy a home in Atlanta Georgia 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 purchase another one in Atlanta Georgia .
You May be Able to Purchase a Home in Atlanta Georgia After a Short Sale
While it is true that Conventional loan requirements would prevent one from buying a new home in Atlanta or Georgia 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 in Atlanta or Georgia 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 a new area because of his work. He closed on the short sale in May and we were able to close on the purchase of his new home, with an FHA mortgage in June.
He did not have any late payments on his mortgage and the short sale payoff served as payment in full of he previous mortgage. With these criteria in place, we were able to help him even after other lenders told him that he would not be able to purchase a new home due to the recent short sale.
If you have recently gone through a short sale and are asking " Can I buy a home in Atlanta Georgia after a short sale?"and would like to see if you too would qualify for a FHA mortgage to purchase your next home in Atlanta or Georgia, visit me online HERE give me a call at 866 435 6553. A short telephone conversation may help you get into a new home, even after a short sale.
You can also Call Terence Richardson to look for homes that would qualify for a FHA home loan. he can be reached at (678) 785-5275 or you can find him online by clicking HERE
Comments(0)