How Long 'til Short Sale Sellers Can Buy Again?

Reblogger Michael J. Perry
Real Estate Agent with KW Elite

The Housing Crisis of 2007-2011 has left many consumers removed from the marketplace as potential buyers ! This in itself causes an unbalance in the housing supply and demand ! Just how long do these affected consumers and potential future buyers have to wait ? Melissa's chart helps clear up the mystery !

Original content by Melissa Zavala Cal BRE #01324959

I’ve got yet another chart to share with you that addresses one of the most common questions asked by short sale sellers, participants in bankruptcy proceedings, and those who have been touched by foreclosure. You may remember the last waiting period chart that I shared that reviewed in great detail all of the loan programs and also provided an overview on the time periods (or waiting periods) for buying another property or obtaining another home loan again—the future ability to borrow.

When I received this brief overview (see below), it was just like the pleasurable experience of receiving an Amazon gift certificate (hint, hint to my husband—if he is reading) by surprise in my email inbox. It’s brief. It’s simple to read, and it’s provided to you here courtesy of Kevin Hauber, a Senior Loan Consultant at iMortgage. Anyway, it’s helpful information for you and also that can be passed on to your clients. Thanks, Kevin, for sharing it with the world.

Loan Waiting Periods

Sidebar: To friends and followers of Short Sale Expeditor®, you need to log into Scribd in order to download and print this chart. If the chart doesn’t look right on your browser, delete your browsing history and check that you have all the latest updates on your computer BEFORE you email me at my personal email address and beg me to send you a copy ;-)

Here are some other downloadable items that might be helpful to you:

Bank of America’s New Short Sale Addendum

Outline of the Bank of America Cooperative Short Sale Program

Short Sale vs. Foreclosure

What Is a HAFA Short Sale?

 

Melissa Zavala 
BROKER/REALTOR® ● DRE #01324959

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Rainer
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Not a real person
San Diego, CA

Happy Tuesday!

Sep 27, 2011 04:44 AM #1
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Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"

Michael  Thank you for reblogging - there sre so many "theories" on the subject - good to see it easily understood

Sep 28, 2011 03:37 PM #2
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Gary J. Muccio, Associate Broker
Keller Williams of Central PA - Camp Hill, PA
Exceptional Customer Service!

Great info. Mike - Thanks for sharing! Hope you're doing well!

Oct 05, 2011 03:18 AM #3
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Joy Daniels
Joy Daniels Real Estate Group, Ltd. - Harrisburg, PA

Great charts!  I will definitely share them with my team.  Thanks Mike!  :)

Oct 12, 2011 11:12 AM #4
Rainer
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David Longenecker
Hostetter Realty - Parkesburg, PA

An interesting and very helpful article which I am going to print out post haste.

Nov 15, 2011 11:01 PM #5
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Charlie Dresen
Steamboat Sotheby's International Realty - Steamboat Springs, CO
Steamboat Springs, CO e-Pro

Thanks for the short and easy to understand recap. That's what people are looking for, and this will be very helpful.

Nov 15, 2011 11:16 PM #6
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Don Hess
KW Elite Keller Williams 1280 Plaza Blvd. Lancaster, PA 17601 - Quarryville, PA

Thanks Mike. You know I need things to be simple. This is great.

Dec 16, 2011 08:07 AM #7
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Marsha Smith
Miller & Associates Real Estate LLC. - Gettysburg, PA

I glad you re-blogged this one. I get this question alot and the information is helpful. I'm sure I get a lot of use out of this one. Thanks

Oct 28, 2012 12:52 PM #8
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Michael J. Perry

Lancaster, PA Relo Specialist
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