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Can we get a morgage loan even if it has only been 2yrs and 3 monhs since our short sale?

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Angelicluv1979 Joined: 08 Feb 2011 Posts: 1 1.34 Dollars($)	Posted: Tue Feb 08, 2011 10:27 pm    Post subject: Can we get a morgage loan even if it has only been 2yrs and Like 0 Dislike 0 We only have $520 in credit card bills each month to pay and our annual income is around $75,000 We have no car payments. Our credit score is currently at 661 however we recently paid off our car loans and three other credit cards, so we hope to see our credit score increase over the next month. we are able to put $10,000 as a down payment, and we are hoping to qualify for at least $300,000. We even have $10,000 in our savings (not including our down payment) Is there a good chance we can get a loan within the next few months or do we have to wait until Nov 2011 when it would be 3yrs since our short sale closed?
jerry Moderator Joined: 17 Oct 2005 Posts: 2708 Location: MICHIGAN 429.63 Dollars($)	Posted: Wed Feb 09, 2011 3:04 am    Post subject: Like 0 Dislike 0 Hi Angelicluv, After a short sale, you will have to wait for 3 years to qualify for a new mortgage. Nevertheless, as your credit score will increase, you should contact the local lender and apply for a mortgage. The lenders will check your situation and let you know whether or not you will qualify for a loan. Thanks, Jerry

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