Waiting Period After Distressed Sale

"How long do we have to wait to qualify for another mortgage" is the question concerning people who've had a foreclosure, short sale or bankruptcy. The loan types for the new loan will differ in amounts of time to heal credit scores based on the event.

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The following chart is meant to be a general guide for how long a person might have to wait. During this waiting period, it's important that the person be current on all payments and maintains a history of good credit.

A recommended lender can give you specific information regarding your individual situation and can make suggestions that will improve your ability to qualify for a mortgage. This process should be started before looking at homes because of the time constraints listed here can vary based on current requirements and possible extenuating circumstances of your case.

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We want to be your personal source of real estate information and we're committed to helping from purchase to sale and all the years in between. Call us at (281) 491-6274 for lender recommendations.

DON BURNS TEAM- REAL ESTATE
CDPE, CRS, ePRO®
http://www.har.com/donburns
don@donburns.com
(281) 491-6274


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