When to Start Home Hunting After Short Sale or Foreclosure

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Buyers that have served their short sale and/or foreclosure sentences want to know how quickly they can finance a home again.  Prior homeowners who have waited out their post short sale/foreclosure time-frames are eager to regain the pride of home ownership.

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Exactly When Can I Buy After BK, Foreclosure or Short Sale?

After reaching your home loan eligibility date, you should now exactly when you can shop for a new home.  In addition, you need to know when you can close.   Former home-owners are longing to stick the key into their new front door, turn it and step pridefully into the your new home.

The answer to this burning questions is not as simple as you might think.  For example, Conventional Home Loan rules allow you to buy as long as you sign your “NOTE” and “DEED” the day after you wait period is up.  On the other hand, FHA does not allow FHA case numbers to be assigned prior to your wait period ending.

Issues to Be Wary of Buying After a BK, Foreclosure or Short Sale

It’s that simple!  Or is it?  One thing to work with your Arizona Mortgage Lender on well in advance of actually writing a contract on a new home is your complete mortgage your pre-approval.  Due to the number of little details that can pop up derailing your home loan approval are endless.   However,  when addressed up front, many of these can be corrected prior to becoming last minute hurdles.

For example, a common issues relates to many borrower’s prior short sale being inaccurately coded as a foreclosure on their credit report.  Complicating matters, a consumer cannot see this issue just by looking at their credit report.  When working with a seasoned loan officer this type of error and many just like it can be rectified ahead of time.

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By Jeremy House


  1. Thank you for this article! I have been anxious to know the “minute” I can buy again. Thanks again, this lifted my spirits!

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