Can I purchase a home after selling mine through a short sale?

Have you sold your home through a short sale?  Do you wonder if and when you will be able to purchase a home again?  According to one of our recommended lenders at First Commonwealth Mortgage, a three year waiting period may be required before your next purchase, however; this is only required when mortgage payments become delinquent.  Paying your mortgage on time throughout the short sale process may allow you to purchase without the three year waiting period.  If mortgage payments are made on time, the loan will not be put into a foreclosure status when the bank reports it to credit companies.  This means individuals might be able purchase a new home with an FHA loan even after a short sale.  If you would like to learn more about purchasing a Louisville home or financing in Louisville, Ky please contact At Home In Louisville Real Estate Group.

Author