1 STOP MORTGAGE BLOG!

Tips for a Home Again After a Foreclosure!

Tips on Applying for a Mortgage After a ForeclosureRealtor.com -  by Annamaria Andriotis Recovering from a negative credit event like a foreclosure can take years—seven years in many cases.A growing number of Americans are reaching that juncture after going into foreclosure early in the housing crisis.During that seven-year period, gaining access to loans is challenging, particularly in the first two to three years. Getting approved for a car loan or credit card is possible, though the interest rates you’ll be charged will be high. But finding a lender that will give you a mo...

November 15th, 2016 | Bankruptcy, Foreclosure, Short Sales, Tips for a Home Again After a Foreclosure!

When can I get an FHA loan after a Short Sale?

Rules for FHA Loans Following a Short Sale  Borrowers who have experienced financial trouble and wind up selling their property in a short sale arrangement often recover from their difficulties and feel ready to become homeowners once more. When you are ready to fill out an FHA loan application in the wake of a short sale, what do the FHA loan rules say about having such a transaction on your record?FHA loan rules for new loans following a short sale may seem complex--the rules that apply to you often depend on the status of your mortgage loan prior to the short sale.FHA has a list of sh...

April 18th, 2016 | Bankruptcy, Foreclosure, Short Sales, When can I get an FHA loan after a Short Sale?

Post-Bankruptcy, Foreclosure, and Short Sale Options

How Long Before I Can Buy A Tennessee Home After A Short Sale, Foreclosure or Bankruptcy on Conventional and FHA mortgages?Yes, there is a waiting period. The good news is there are prescribed waiting periods for qualifying for a new loan, depending on the circumstances of how you lost your last home.Review the chart below and you will be able to determine which period applies to you and when you will be able to apply for mortgage to purchase a home again.OCCURANCECONVENTIONALFHAFORECLOSURE7 years from completion date 3 years with extenuating circumstances at 90% LTV (primary residences o...

June 9th, 2014 | Bankruptcy, Foreclosure, Short Sales, Post-Bankruptcy, Foreclosure, and Short Sale Options

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