Believe it or not, you may qualify for a home mortgage within 2 years after a short sale, foreclosure, or bankruptcy.
Of course, there are a lot of details in qualifying for a home loan so quickly after these financial events, but there are specific circumstances in which it is possible.
For details, read our article: How long do I have to wait after a short sale, foreclosure or bankruptcy to buy a home?
With the volatility in the housing market in recent years, this is one of the most common questions we receive from borrowers. Many borrowers experienced one of these issues and are now 2-3 years from the date it occurred and are wondering if they will now be able to secure financing to purchase a new home.
The answer to this question can be complex and can depend upon the nature of the incident as well as the type of loan program the borrower is seeking. Following are some general rules: