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mjraz · Joined: 12 Oct 2009 Posts: 2 1.57 Dollars($)

I recently sold my home by short sale. Is it possible to get a new mortgage? I was told it would be two years after the short sale for FHA loan. Are there other loan types that I would qualify for?

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Depending on yoru credit score and incoem you may be able to apply for a new mortagage in 12 months time

Expect the rates to be higher than normal

jenkin7 · Posted: Mon Oct 12, 2009 10:26 pm Post subject:

Hi mjraz,

You will have to wait for at least 2 years to qualify for an FHA mortgage after a short sale. For conventional mortgages, you will have to wait for 3-4 years. You also need to improve your credit scores sufficiently after the short sale to qualify for a mortgage. It is going to be virtually impossible to qualify for a new mortgage in 12 months time after the sale, given the situation this market is in.

kas_mah80 · Joined: 06 Sep 2009 Posts: 31 -0.11 Dollars($)

if your credit score is good then a little bit chance that you can get any other loan but the time period is the require to get loan ,one thing more that you can also take fha loan and the time periode is not completed after that your score will good and you can easily take loan ,
i hope you can understant my points ,

regards
kas

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New mortgage after short sale?