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reinstatement

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Guest	Posted: Mon Aug 08, 2011 2:19 pm    Post subject: reinstatement Like 0 Dislike 0 Or in other words, how long after I have reinstated my mortgage will I have to wait before qualifying for a new mortgage on a different property. (The home with the reinstated mortgage will be sold or rented.)
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Aug 08, 2011 8:50 pm    Post subject: Like 0 Dislike 0 Hi Guest! Welcome to forums! As far as I know, you will have to wait till the mortgage reinstatement is complete and then apply and qualify for a new mortgage on a different property. Feel free to ask if you've further queries. Sussane
Guest	Posted: Tue Aug 09, 2011 8:50 am    Post subject: Like 0 Dislike 0 i understand that. how old does a reinstatement on my credit have to be, before I can qualify? what is the waiting period? Is it considered a foreclosure on my credit and a 3 year wait?
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Tue Aug 09, 2011 8:23 pm    Post subject: Like 0 Dislike 0 Hi Guest, In case of a foreclosure, you need to wait for 3-4 years in order to qualify for a new mortgage. However, I haven't heard any such time period in case of reinstatement of a loan. You may contact your lender and take his opinion in this matter. Thanks

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