Short Sold Your Home: When Can You Buy Again?

By
Real Estate Agent with Trademark Realty Group of Palm Coast

Palm Coast Flagler County Houses For SaleOwners who have short sold their home know that it can be a daunting ordeal, and there are some negative ramifications on credit .  The question for most at the end of it all is, “When can I buy a house again?” especially with so many great deals available today.  Blair Lamphier, owner of Community Mortgage Solutions, gives the following as a guide:

CONVENTIONAL LOANS:

Short sale- 4 years from the date of the sale, and removing the owner from the deed. 10 % down
Short sale- 2 years from the date of the sale, and removing the owner from the deed, 20 % down
Foreclosure- 7 years from the date foreclosure was completed and transferred out of the owner’s name.

FHA LOANS:

Short sale- 3 years from the date of the sale, and removing the owner from the deed.
Foreclosure- 3 years from the date foreclosure was completed and transferred out of the owner’s name.

VA LOANS:

Short sale – 2 years
Foreclosure – 2 years

USDA LOANS:

Short sale – 3 years
Foreclosure- 3 years

If you have sold in a short sale situation in the last few years and are interested in owning, it might be time to see what options are available for you today.  Give Blair and his team over a Community Mortgage Solutions a call today.

Posted by

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL  32136 | Office: (386) 446-5930 
Email:  Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Palm Coast Facebook Palm Coast Google+ Palm Coast Twitter Watch Us On YouTube

                                               

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
Florida Flagler County Palm Coast
Tags:
real estate agent
house
home
palm coast
flagler county
flagler beach
for sale
short sale

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
303,876
Linda K. Mayer
License # 01767321 - La Verne, CA
Realtor, SRES, SoCAL, A REALTOR YOU CAN TRUST

Kathleen, awesome post and a great resource for potential buyers.

Feb 14, 2013 06:54 AM #1
Rainmaker
624,163
Kathy Stoltman
Rockwood Realty - Ventura, CA
Ventura County Real Estate Consultant 805-746-1793

Kathleen, I used to think 2 years was such a long time, now 2 years fly past before I know it.  This does give hope to those that short sold their home that they could be homeowners again.

Feb 14, 2013 08:22 AM #2
Rainmaker
1,448,889
Sandy Padula and Norm Padula, JD, GRI
Realty National - Carlsbad, CA
Presence, Persistence & Perseverance
Clear and concise information. Information well worth keeping close at hand.
Feb 14, 2013 08:19 PM #3
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
87,542

Kathleen West

Flagler County & Palm Coast Realtor
How can I help you?
*
*
*
*
Spam prevention

Additional Information