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Buying house after short sale

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ak1232002 Joined: 11 Apr 2010 Posts: 3 1.98 Dollars($)	Posted: Mon Apr 25, 2011 10:43 am    Post subject: Buying house after short sale Like 0 Dislike 0 Hi, I am doing a short sale of my house in California. My wife is on title along with me but she is not on the loan. Can we buy a house immediately after short sale by taking a loan on my wife's name? Will there be any problem while buying another house on her name as she is on the title of the current house which we are going to do short sale. Will it be helpful if my wife does an Inter spousal transfer before the short sale? Thanks in Advance!
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Apr 25, 2011 6:57 pm    Post subject: Like 0 Dislike 0 Hi ak! Welcome to forums! The short sale will not affect your wife as she is not on the loan. Your wife can buy a property solely in her name just after the short sale. She won't face any problems in getting a mortgage if she has a good credit score and income. As far as inter-spousal deed is concerned, you should speak to a real estate attorney in this regard. Feel free to ask if you've further queries. Sussane

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