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Northeast OH Short Sales: The Wait To Buy Another Home After A Short Sale Was Recently Changed to 3 Years

Northeast OH – The Stop Foreclosure Institute recently received a question from Christina. Here is her question.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

“I just read your article Frequently Asked Questions about Short Sales. You mention that you can obtain another home loan two years after a short sale.

Who are these lenders and how can I contact them? I have been looking but so far no luck. Everyone is insisting we must wait three years. I’d appreciate any information you can provide. Christina.”

We just heard back from our mortgage broker on this issue. Fannie Mae recently changed their guidelines for a loan after a short sale.

(Since most lenders and loan programs follow Fannie Mae’s Guidelines, that means that almost every single lender changed their policies as well.)

When we wrote the article their guidelines had said that you had to wait two years after a short sale. Now those guidelines have been changed to 3 years.

The good news is that you can still buy a house after a short sale. Life does go on and will go back to normal. No matter how bad things may seem, they will get better.

Before you know it the 3 years will pass and you can buy another home. The housing market is still flat and will probably be flat over the next 3 years.

So you will be able to buy the next house for substantially less than what you paid for your current home. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at iandymorris@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (440) 348-5500

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Northeast OH loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Andy Morris specializes in loan modification assistance and short sales in Northeast OH Ohio. Northeast OH Loan Modification Help, Northeast OH Short Sales, Northeast OH Short Sale Realtor, Rocky River Short Sales. Rocky River Loan Modification Help, Rocky River Short Sale Realtor, Bay Village Loan Modification Help, Bay Village Short Sales, Bay Village Short Sale Realtor. Avon OH Loan Modification Help. Avon OH Short Sales. Avon OH Short Sale Realtor. Avon Lake Loan Modification Help, Avon Lake Short Sales, Avon Lake Short Sale Realtor. North Ridgeville Loan Modification Help. North Ridgeville Short Sales, North Ridgeville Short Sale Realtor. Sheffield Lake Loan Modification Help, Sheffield Lake Short Sales, Sheffield Lake Short Sale Realtor. Columbia Station Loan Modification Help, Columbia Station Short Sales, Columbia Station Short Sale Realtor. Grafton Loan Modification Help, Grafton Short Sales, Grafton Short Sale Realtor. Northeast OH Short Sales. Northeast OH Realtor.

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