Buying a home after completing a short sale is not impossible! Depending upon the type of short sale you completed, whether or not you have additional properties that are upside down/under water, your credit rating, and the amount of downpayment you have, you may be able to purchase a home right away or need to wait 2-5 years after completing the short sale.
Category: Home Sellers
Buying a Home in the Bay Area after doing a Short Sale in Livermore, the Tri-Valley, East Bay Area & California
Buying a home after completing a short sale is not impossible! Depending upon the type of short sale you completed, whether or not you have additional properties that are upside down/under water, your credit rating, and the amount of downpayment you have, you may be able to purchase a home right away or need to wait 2-5 years after completing the short sale.
Banks Really Do Prefer Short Sales Over Foreclosures!
Banks prefer shortsales over foreclosures. A study by Clayton Holdings demonstrates that short sales are much better for banks than foreclosures.
Home Buyer Tax Credit Extension Stuck in the House
The bill to extend the buyer tax credit passed the Senate, but is now sitting in the House of Representatives, where it is expected to pass should it actually get voted on in time.