Buying Right After Short Sale

It's true, one can typically not qualify for a mortgage loan for a period of years after completing a short sale. However, there are exceptions to that rule and as your Phoenix Arizona Mortgage Lender, I will never leave any stone un-turned while searching to find what options my clients have available to them. One of the best stories that I have had the good fortune to be a part of involves an FHA client we recently closed a loan for. This family needed to complete a short sale on their current … [Read more...]

How Long Are FHA Appraisals Good For?

An FHA appraisal is valid and must be used for a period of 120 days.  FHA measures the appraisal validity period from the day that the FHA appraiser inspects the property through the day that the FHA loan being used to buy the property that was appraised is closed.  FHA does technically allow for an appraisal to be extended up to 30 days beyond the 120 day validity period if that appraisal has not been updated per FHA update policy.   More important however is the fact that in this current … [Read more...]