How to Get a Loan After a Short Sale?

Answer You may have had a short sale but that doesn't mean you can't get a new home 2 years later.

Top Q&A For: How to Get a Loan After a Short Sale

How long do you have to wait after a short sale before you can get another loan?

According to HUD's Mortgagee Letter 09-52, if you were not current on your home mortgage at the time of the pre-foreclosure sale, you are not eligible for a new FHA-insured mortgage for three years... Read More »

Will My Husband's Short Sale Affect Me Getting a Loan?

A short sale is the sale of a home for less than its market value. It is a popular strategy for a homeowner seeking to avoid the damage caused by a foreclosure. The damage a short sale causes to a ... Read More »

Do you owe the IRS for the difference after a short sale?

You still owe the IRS after a short sale because they consider any forgiven debt as income, according to Nolo. However, the Mortgage Forgiveness Debt Relief Act of 2007 gave taxpayers a relief from... Read More »

How to Qualify for an FHA Mortgage After a Short Sale?

Qualifying for an FHA mortgage after a mortgage short sale is possible. But your ability to get a mortgage insured by the Federal Housing Administration depends largely on how you managed your prev... Read More »