Life after Shortsales in Portland, Or

Dated: July 24 2013

Views: 1355

There are many of us out there who have had to shortsale our homes. Including myself.  Recently, I spoke with a lender and learned the guidelines for the Life after Shortsale buyer.  It turns out, that there is hope for us boomerang buyers, as they call us, to purchase a home again.

Once you have re-established your credit, with no lates and carrying less than 20% on any one credit card, you may now be ready to purchase according to the following guidelines.  

You may with 20% down, be eligible for a conventional loan after 2 years.  

An FHA loan is possible after 3 years.

The USDA is available to you after 3 years.  Remember, this loan is 100% financing in many of our rural areas.      http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

The VA for veterans is usually available after 2 years. 

Isn't it wonderful to know that there is Life after Shortsales.  I am so ready to get back into being a homeowner again.  

We work with some wonderful local lenders who would love to help you get back into your new dream home.  Give us a call and we would be glad to give you their contact information.  Isn't it about time you were a homeowner again?

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Megan Womack

Megan Womack came to Front Door Realty with over 10 years of customer service experience. She thrives on making sure our clients come first, is the ultimate people person, and makes friends everywhere....

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