When Can I Buy Again After a Short Sale or Foreclosure?

Many people who have gone through a short sale or a foreclosure in the recent past may be under the assumption they cannot purchase a home again for many, many years or perhaps never.  Although a short sale or foreclosure are not the best for any credit rating, it is not the end of the world for future financing options. Below is a chart of when you can buy again after a short sale or foreclosure.

If you or someone you know has recently gone through either a short sale or a foreclosure, and you would like to purchase a home again, please give me a call. The market conditions are perfect for buying – prices are affordable and interest rates have never been better. If you are unsure if you can qualify for a new mortgage, please give me a call. I can refer you to an expert loan officer who can assess your personal situation. Give me a call today. Frank