Life after Shortsales in Portland, Or

Dated: 07/24/2013

Views: 1053

There are many of us out there who have had to shortsale our homes. Including myself.  Recently, I spoke with a lender and learned the guidelines for the Life after Shortsale buyer.  It turns out, that there is hope for us boomerang buyers, as they call us, to purchase a home again.

Once you have re-established your credit, with no lates and carrying less than 20% on any one credit card, you may now be ready to purchase according to the following guidelines.  

You may with 20% down, be eligible for a conventional loan after 2 years.  

An FHA loan is possible after 3 years.

The USDA is available to you after 3 years.  Remember, this loan is 100% financing in many of our rural areas.      http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

The VA for veterans is usually available after 2 years. 

Isn't it wonderful to know that there is Life after Shortsales.  I am so ready to get back into being a homeowner again.  

We work with some wonderful local lenders who would love to help you get back into your new dream home.  Give us a call and we would be glad to give you their contact information.  Isn't it about time you were a homeowner again?

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