One thing we are learning more about is doing loans for those who have had a short sale or foreclosure on their credit. If you have clients who have had a short sale on their credit instead of having to wait two years to purchase we are learning that it is now three years. The banks are looking at this credit profile as if it is a foreclosure on their credit and are held to the same guidelines as having a foreclosure. Even if they credit qualify with their credit scores this is something to consider when speaking to your potential buyers.
Credit Qualifying, Short Sales, Foreclosures,
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