Homeownership after Foreclosure? Yes!

Homeownership after Foreclosure? Yes!

…and it can happen much sooner than you may have been told.

 

Federal loan guidelines regulate how soon a borrower may purchase after a Foreclosure, Short Sale and/or Bankruptcy. Lenders may use the following time frames when qualifying a buyer wishing to repurchase a home:

 

*  Foreclosure: A borrower may apply 3 years after the foreclosure; if the loss was due to ‘extenuating circumstances’ i.e.. job loss, divorce, medical.

*  Short Sale: Homeownership may be possible 2 Years after the sale for the same ‘extenuating circumstances’.

*  Bankruptcy: Again, 2 Years for special circumstances.

Many homeowners began losing their homes in 2008, which means that for some, the dream of owning again may be possible this year!

 

Call me and I can have a qualified and professional loan officer contact any friend or family you feel may be eligible.

Mary Casey, Your Yucaipa Realtor

(909) 534-8715

Share and Enjoy:
  • Print
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • Blogplay