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Monday, February 4, 2013

When Can I Buy Another Home After A Short Sale Or Foreclosure? How About Now...

When Can I Buy Another Home After A Short Sale Or Foreclosure? How About Now...

Right now. So it seems. Most buyers need to wait from 2 to 7 years before purchasing a home after a Short Sale or a Foreclosure. 

However, some Arizona lenders are now offering new unique programs that allow those same buyers to purchase a home one day of their Short Sale or Foreclosure, or even a bankruptcy. And these programs are not hard money loans.

Typically, depending on the situation, one should likely have at least a FICO score of 600, and a 25% down payment and at least 6 months' reserve. But every situation is different - best is to have your individual situation reviewed - there is no cost to do so.

Interested?

Richard Bazinet, Realty ONE Group, Phoenix Scottsdale Real Estate

When Can I Buy Another Home After A Short Sale Or Foreclosure? How About Now...