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.
Richard Bazinet, Realty ONE Group, Phoenix Scottsdale Real Estate
When Can I Buy Another Home After A Short Sale Or Foreclosure? How About Now...